Community West Bancshares (NASDAQ:CWBC) Price Target Cut to $19.00 by Analysts at Piper Sandler

Community West Bancshares (NASDAQ:CWBC) had its target price reduced by Piper Sandler from $22.00 to $19.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. DA Davidson reduced their target price on Community West Bancshares from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 27th. StockNews.com raised Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Community West Bancshares from $21.00 to $19.00 and set a “market perform” rating for the company in a report on Tuesday.

Community West Bancshares Stock Performance

CWBC opened at $16.55 on Tuesday. The firm has a market cap of $315.46 million, a P/E ratio of 31.83 and a beta of 0.78. The business’s fifty day moving average is $17.84 and its 200-day moving average is $19.03. Community West Bancshares has a 52-week low of $15.57 and a 52-week high of $22.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82.

Community West Bancshares (NASDAQ:CWBC) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Community West Bancshares had a return on equity of 7.90% and a net margin of 4.59%. The firm had revenue of $34.79 million for the quarter, compared to analyst estimates of $35.05 million. Sell-side analysts expect that Community West Bancshares will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James J. Kim purchased 1,600 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $17.36 per share, for a total transaction of $27,776.00. Following the acquisition, the chief executive officer now owns 60,178 shares in the company, valued at $1,044,690.08. This trade represents a 2.73 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Martin E. Plourd sold 7,732 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $19.26, for a total transaction of $148,918.32. Following the completion of the sale, the president now directly owns 82,737 shares in the company, valued at approximately $1,593,514.62. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 5,805 shares of company stock valued at $104,788. 10.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CWBC. Spire Wealth Management acquired a new stake in Community West Bancshares during the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC grew its position in shares of Community West Bancshares by 33.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,096 shares of the financial services provider’s stock worth $41,000 after buying an additional 529 shares during the period. US Bancorp DE acquired a new stake in shares of Community West Bancshares during the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets increased its stake in shares of Community West Bancshares by 29.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,600 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Forum Financial Management LP acquired a new position in shares of Community West Bancshares during the 4th quarter valued at $245,000. 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.