Community West Bancshares to Post FY2024 Earnings of $1.67 Per Share, DA Davidson Forecasts (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) – Research analysts at DA Davidson cut their FY2024 earnings per share estimates for Community West Bancshares in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst G. Tenner now expects that the financial services provider will earn $1.67 per share for the year, down from their prior forecast of $2.08. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.68 per share.

Community West Bancshares (NASDAQ:CWBC) last issued its earnings results on Friday, January 26th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.19). Community West Bancshares had a return on equity of 11.58% and a net margin of 20.04%. The firm had revenue of $11.02 million for the quarter, compared to analyst estimates of $11.60 million.

A number of other equities analysts have also weighed in on CWBC. StockNews.com lowered Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Piper Sandler increased their price target on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. TheStreet lowered Community West Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price target on Community West Bancshares from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Community West Bancshares currently has a consensus rating of “Hold” and an average target price of $20.33.

Community West Bancshares Price Performance

Shares of NASDAQ:CWBC opened at $17.97 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.34. Community West Bancshares has a twelve month low of $12.59 and a twelve month high of $24.47. The stock’s 50 day moving average is $16.07 and its 200-day moving average is $15.16. The firm has a market capitalization of $160.11 million, a price-to-earnings ratio of 9.51 and a beta of 0.85.

Community West Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Community West Bancshares’s previous quarterly dividend of $0.08. Community West Bancshares’s dividend payout ratio is 25.40%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Community West Bancshares stock. Black Maple Capital Management LP raised its holdings in Community West Bancshares (NASDAQ:CWBC) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,475 shares of the financial services provider’s stock after purchasing an additional 1,417 shares during the quarter. Black Maple Capital Management LP owned 0.20% of Community West Bancshares worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 33.80% of the stock is owned by institutional investors.

Community West Bancshares Company Profile

Community West Bancshares operates as the bank holding company for Community West Bank, N.A. that provides various financial products and services in California. The company offers deposit products, such as checking accounts, savings accounts, money market accounts, and fixed rate and fixed maturity certificates of deposits; and cash management products.