DA Davidson Forecasts Strong Price Appreciation for Community West Bancshares (NASDAQ:CWBC) Stock

Community West Bancshares (NASDAQ:CWBC - Get Free Report) had its target price lifted by DA Davidson from $20.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. DA Davidson's target price points to a potential upside of 13.48% from the company's previous close.

CWBC has been the topic of a number of other research reports. Piper Sandler dropped their target price on shares of Community West Bancshares from $22.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Community West Bancshares from $19.00 to $22.00 and gave the company a "market perform" rating in a research report on Friday.

Community West Bancshares Price Performance

Shares of CWBC traded up $0.70 during trading hours on Monday, hitting $21.15. 42,534 shares of the company were exchanged, compared to its average volume of 53,073. The company has a market cap of $403.12 million, a price-to-earnings ratio of 15.15 and a beta of 0.77. Community West Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $22.89. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $18.98 and its 200 day moving average is $18.44.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.08). The business had revenue of $35.67 million during the quarter, compared to analyst estimates of $35.90 million. Community West Bancshares had a net margin of 13.88% and a return on equity of 7.99%. On average, equities analysts anticipate that Community West Bancshares will post 2.15 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Bartlein bought 2,001 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was bought at an average cost of $17.19 per share, for a total transaction of $34,397.19. Following the acquisition, the director directly owned 440,877 shares of the company's stock, valued at $7,578,675.63. The trade was a 0.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have acquired 4,368 shares of company stock worth $74,935. Insiders own 10.57% of the company's stock.

Hedge Funds Weigh In On Community West Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Community West Bancshares by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 48,419 shares of the financial services provider's stock valued at $938,000 after purchasing an additional 1,623 shares during the period. Potentia Wealth purchased a new position in shares of Community West Bancshares during the fourth quarter valued at approximately $254,000. Alliancebernstein L.P. purchased a new position in shares of Community West Bancshares during the fourth quarter valued at approximately $435,000. Wells Fargo & Company MN grew its position in Community West Bancshares by 15.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,175 shares of the financial services provider's stock valued at $313,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in Community West Bancshares by 2.7% in the 4th quarter. Kennedy Capital Management LLC now owns 118,719 shares of the financial services provider's stock valued at $2,300,000 after acquiring an additional 3,175 shares during the last quarter. Institutional investors own 33.80% of the company's stock.

About Community West Bancshares

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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