DA Davidson Has Negative Outlook of CWBC FY2024 Earnings

Community West Bancshares (NASDAQ:CWBCFree Report) – Research analysts at DA Davidson lowered their FY2024 earnings estimates for Community West Bancshares in a report released on Monday, October 28th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $1.14 per share for the year, down from their previous forecast of $1.26. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.49 per share. DA Davidson also issued estimates for Community West Bancshares’ Q4 2024 earnings at $0.47 EPS and FY2025 earnings at $2.11 EPS.

CWBC has been the topic of several other research reports. StockNews.com downgraded shares of Community West Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th. Piper Sandler upped their target price on shares of Community West Bancshares from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Community West Bancshares currently has a consensus rating of “Hold” and an average target price of $20.33.

Get Our Latest Stock Analysis on CWBC

Community West Bancshares Trading Up 0.5 %

NASDAQ:CWBC opened at $18.82 on Tuesday. The company’s 50-day simple moving average is $19.38 and its 200 day simple moving average is $18.60. The firm has a market capitalization of $355.13 million, a P/E ratio of 9.96 and a beta of 0.86. Community West Bancshares has a one year low of $15.22 and a one year high of $24.47. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.80 and a quick ratio of 0.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. purchased a new stake in Community West Bancshares during the first quarter valued at approximately $10,532,000. Dimensional Fund Advisors LP increased its stake in shares of Community West Bancshares by 284.8% in the second quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock worth $11,864,000 after purchasing an additional 474,671 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of Community West Bancshares in the second quarter worth $4,842,000. The Manufacturers Life Insurance Company increased its stake in shares of Community West Bancshares by 198.0% in the second quarter. The Manufacturers Life Insurance Company now owns 365,965 shares of the financial services provider’s stock worth $6,770,000 after purchasing an additional 243,165 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Community West Bancshares in the second quarter worth $1,770,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Patrick A. Luis sold 1,650 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.37, for a total transaction of $31,960.50. Following the completion of the transaction, the executive vice president now directly owns 27,586 shares of the company’s stock, valued at $534,340.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.15% of the stock is owned by corporate insiders.

Community West Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.55%. Community West Bancshares’s payout ratio is 25.40%.

About Community West Bancshares

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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.

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