Community West Bancshares (NASDAQ:CWBC) Receives Overweight Rating from Piper Sandler

Key Points

• Piper Sandler reissued an overweight rating on Community West Bancshares with a $30.00 target, implying about a 25.47% upside from the prior close.
• Analyst consensus is a Moderate Buy (three Buy, two Hold) with a consensus price target of $28.00.
• Shares opened at $23.91 with a market cap of $458.3M and a P/E of 11.96; the company reported Q4 EPS of $0.60 (beat by $0.03) but revenue missed at $32.89M versus $38.38M, and the 52-week range is $15.57–$25.72.

Community West Bancshares (NASDAQ:CWBC - Get Free Report)'s stock had its "overweight" rating reissued by Piper Sandler in a note issued to investors on Monday,Benzinga reports. They currently have a $30.00 target price on the financial services provider's stock. Piper Sandler's price objective suggests a potential upside of 25.47% from the stock's previous close.

A number of other brokerages have also weighed in on CWBC. Keefe, Bruyette & Woods upped their target price on Community West Bancshares from $23.00 to $25.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 31st. Weiss Ratings restated a "buy (b-)" rating on shares of Community West Bancshares in a research note on Friday, March 27th. Zacks Research lowered Community West Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 16th. Finally, DA Davidson upped their target price on Community West Bancshares from $26.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Community West Bancshares Stock Performance

Shares of CWBC opened at $23.91 on Monday. The stock's 50-day simple moving average is $23.56 and its 200 day simple moving average is $22.65. The stock has a market capitalization of $458.33 million, a price-to-earnings ratio of 11.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.85 and a current ratio of 0.85. Community West Bancshares has a 52-week low of $15.57 and a 52-week high of $25.72.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $32.89 million for the quarter, compared to analysts' expectations of $38.38 million. Community West Bancshares had a return on equity of 9.94% and a net margin of 19.45%. Research analysts forecast that Community West Bancshares will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Community West Bancshares

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Community West Bancshares by 623.7% during the 3rd 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Community West Bancshares during the 2nd quarter valued at about $46,000. CWM LLC increased its position in shares of Community West Bancshares by 255.4% during the 3rd quarter. CWM LLC now owns 3,184 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 2,288 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Community West Bancshares by 75.5% during the 2nd 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 during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Community West Bancshares by 2,945.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,381 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 3,270 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.