Community West Bancshares (NASDAQ:CWBC) Receives Buy Rating from DA Davidson

Key Points

• DA Davidson reissued a Buy rating on Community West Bancshares with a $29.00 price target—implying roughly a 19% upside—and MarketBeat's consensus is a Moderate Buy with a $28.17 target.
• Community West beat expectations for the quarter, reporting $0.61 EPS versus $0.56 expected and $38.79M in revenue, with a 20.77% net margin and 10.6% return on equity; analysts forecast about 2.6 EPS for the current fiscal year.
• Shares trade near $24.37, giving a market cap around $467M and a P/E of ~11.3 (52-week range $17.01–$25.72), and institutional/hedge fund ownership has risen to roughly 33.8% after recent accumulation.

Community West Bancshares (NASDAQ:CWBC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $29.00 target price on the financial services provider's stock. DA Davidson's target price indicates a potential upside of 19.00% from the company's previous close.

Several other equities analysts also recently issued reports on CWBC. Keefe, Bruyette & Woods increased their price objective on shares of Community West Bancshares from $23.00 to $25.00 and gave the company a "market perform" rating in a report on Wednesday, December 31st. Zacks Research downgraded shares of Community West Bancshares from a "strong-buy" rating to a "hold" rating in a report on Monday, February 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Community West Bancshares in a report on Friday, March 27th. Finally, Piper Sandler increased their price objective on shares of Community West Bancshares from $30.00 to $30.50 and gave the company an "overweight" rating in a report on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.17.

Community West Bancshares Price Performance

CWBC traded up $0.29 during midday trading on Tuesday, hitting $24.37. 162,952 shares of the company traded hands, compared to its average volume of 168,520. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $467.15 million, a price-to-earnings ratio of 11.28 and a beta of 0.89. Community West Bancshares has a 52-week low of $17.01 and a 52-week high of $25.72. The business has a 50 day simple moving average of $23.40 and a two-hundred day simple moving average of $22.91.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $38.79 million for the quarter, compared to the consensus estimate of $38.23 million. Community West Bancshares had a net margin of 20.77% and a return on equity of 10.60%. On average, equities analysts forecast that Community West Bancshares will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Community West Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of CWBC. Systematic Financial Management LP lifted its stake in shares of Community West Bancshares by 34.1% in the fourth quarter. Systematic Financial Management LP now owns 411,859 shares of the financial services provider's stock worth $9,267,000 after buying an additional 104,779 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Community West Bancshares by 85.5% in the fourth quarter. Renaissance Technologies LLC now owns 167,008 shares of the financial services provider's stock worth $3,758,000 after buying an additional 77,000 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Community West Bancshares by 418.3% in the third quarter. First Trust Advisors LP now owns 63,054 shares of the financial services provider's stock worth $1,314,000 after buying an additional 50,889 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Community West Bancshares by 192.6% in the second quarter. Marshall Wace LLP now owns 55,451 shares of the financial services provider's stock worth $1,082,000 after buying an additional 36,499 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Community West Bancshares in the fourth quarter worth about $758,000. 33.80% of the stock is 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.

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