Community West Bancshares (NASDAQ:CWBC) Price Target Lowered to $24.00 at DA Davidson

Community West Bancshares (NASDAQ:CWBC) had its price target reduced by DA Davidson from $26.00 to $24.00 in a research note published on Monday,Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Community West Bancshares from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.33.

Community West Bancshares Stock Up 1.1 %

Community West Bancshares stock opened at $19.41 on Monday. Community West Bancshares has a twelve month low of $15.50 and a twelve month high of $24.47. The business has a fifty day moving average of $20.14 and a two-hundred day moving average of $19.75. The firm has a market cap of $367.74 million, a P/E ratio of 29.41 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Community West Bancshares (NASDAQ:CWBC) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). Community West Bancshares had a return on equity of 8.14% and a net margin of 4.53%. On average, analysts forecast that Community West Bancshares will post 1.61 earnings per share for the current fiscal year.

Community West Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, February 7th. Community West Bancshares’s dividend payout ratio is presently 92.31%.

Insider Transactions at Community West Bancshares

In other news, Director Steven D. Mcdonald sold 9,155 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $21.51, for a total value of $196,924.05. Following the transaction, the director now directly owns 317,391 shares of the company’s stock, valued at approximately $6,827,080.41. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Bartlein acquired 2,000 shares of Community West Bancshares stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $18.75 per share, with a total value of $37,500.00. Following the completion of the purchase, the director now owns 433,876 shares of the company’s stock, valued at approximately $8,135,175. The trade was a 0.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,432 shares of company stock worth $45,616. Insiders own 11.15% of the company’s stock.

Hedge Funds Weigh In On Community West Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management purchased a new stake in shares of Community West Bancshares in the 4th quarter valued at $27,000. SG Americas Securities LLC acquired a new position in Community West Bancshares during the third quarter valued at $132,000. Barclays PLC boosted its holdings in Community West Bancshares by 228.5% in the third quarter. Barclays PLC now owns 22,057 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 15,343 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Community West Bancshares during the 3rd quarter worth about $847,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Community West Bancshares during the 2nd quarter valued at about $1,153,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.