Community West Bancshares (NASDAQ:CWBC) Announces Earnings Results, Beats Estimates By $0.15 EPS

Community West Bancshares (NASDAQ:CWBC) released its earnings results on Thursday. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.30 by $0.15, FiscalAI reports. The firm had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $55.65 million. Community West Bancshares had a net margin of 16.86% and a return on equity of 11.35%.

Community West Bancshares Stock Down 6.1%

CWBC stock opened at $25.00 on Friday. The firm has a market cap of $678.25 million, a PE ratio of 13.51 and a beta of 0.80. Community West Bancshares has a 12 month low of $18.50 and a 12 month high of $28.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $25.63 and a 200 day simple moving average of $24.28.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CWBC shares. Wall Street Zen upgraded shares of Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Community West Bancshares in a research note on Friday, July 10th. Piper Sandler upped their price objective on Community West Bancshares from $30.00 to $30.50 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, DA Davidson reaffirmed a “buy” rating and set a $29.00 target price on shares of Community West Bancshares in a research note on Tuesday, April 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CWBC. Renaissance Technologies LLC boosted its stake in shares of Community West Bancshares by 85.5% during the 4th quarter. Renaissance Technologies LLC now owns 167,008 shares of the financial services provider’s stock worth $3,758,000 after acquiring an additional 77,000 shares in the last quarter. First Trust Advisors LP raised its position in shares of Community West Bancshares by 418.3% during the third quarter. First Trust Advisors LP now owns 63,054 shares of the financial services provider’s stock worth $1,314,000 after purchasing an additional 50,889 shares during the period. Marshall Wace LLP lifted its holdings in shares of Community West Bancshares by 192.6% during the second quarter. Marshall Wace LLP now owns 55,451 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 36,499 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Community West Bancshares during the fourth quarter valued at $758,000. Finally, Jane Street Group LLC acquired a new position in shares of Community West Bancshares in the 1st quarter valued at $591,000. Institutional investors own 33.80% of the company’s stock.

Community West Bancshares Company Profile

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.