Community West Bancshares (NASDAQ:CWBC) Announces Quarterly Earnings Results, Beats Expectations By $998.48 EPS

Community West Bancshares (NASDAQ:CWBC) issued its earnings results on Thursday. The financial services provider reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.52 by $998.48, Zacks reports. Community West Bancshares had a return on equity of 9.94% and a net margin of 19.45%.

Community West Bancshares Stock Down 0.2%

Shares of Community West Bancshares stock traded down $0.04 on Thursday, reaching $23.94. The company’s stock had a trading volume of 246,164 shares, compared to its average volume of 162,035. The company has a market capitalization of $458.93 million, a price-to-earnings ratio of 11.97 and a beta of 0.89. The firm’s fifty day simple moving average is $23.42 and its two-hundred day simple moving average is $22.82. Community West Bancshares has a 52 week low of $16.80 and a 52 week high of $25.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CWBC. Keefe, Bruyette & Woods increased their price objective on Community West Bancshares from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, December 31st. Zacks Research lowered Community West Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Community West Bancshares in a research report on Friday, March 27th. DA Davidson increased their target price on Community West Bancshares from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Piper Sandler assumed coverage on Community West Bancshares in a research report on Monday, April 13th. They issued an “overweight” rating and a $30.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Community West Bancshares has an average rating of “Moderate Buy” and an average target price of $28.00.

Hedge Funds Weigh In On Community West Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its position in Community West Bancshares by 7.0% during the second quarter. First Trust Advisors LP now owns 12,165 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 794 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in Community West Bancshares by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 28,321 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 1,111 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Community West Bancshares by 75.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,237 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,393 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Community West Bancshares by 623.7% during the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Community West Bancshares by 8.5% during the fourth quarter. Wells Fargo & Company MN now owns 25,799 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 2,031 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

About Community West Bancshares

Community West Bancshares, Inc is the bank holding company for Community West Bank, headquartered in Goleta, California. Through its wholly owned subsidiary, the company offers a full suite of commercial and consumer banking services. Community West Bancshares focuses on providing personalized financial solutions to small and mid-sized businesses, professional practices, and individual customers in its service area.

The company’s product portfolio includes a variety of deposit accounts—such as business checking, savings and money market accounts—along with online and mobile banking capabilities.