Community West Bancshares (NASDAQ:CWBC) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• Community West Bancshares beat quarterly estimates: The company reported $0.66 in EPS, $0.09 above expectations, while revenue of $57.69 million also exceeded analyst forecasts.
• Shares rose to $26.29 during Thursday trading, near the stock’s 52-week high of $28.17. The company reported a 16.86% net margin and 10.12% return on equity.
• Investor sentiment remains favorable: Insiders purchased more than $133,000 of stock over the past three months, while analysts assign the shares a “Moderate Buy” consensus rating with an average price target of $28.17.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) released its earnings results on Thursday. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.57 by $0.09, FiscalAI reports. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%. The firm had revenue of $57.69 million during the quarter, compared to analysts' expectations of $56.79 million.

Community West Bancshares Price Performance

NASDAQ:CWBC traded up $0.71 during mid-day trading on Thursday, hitting $26.29. The company's stock had a trading volume of 253,175 shares, compared to its average volume of 239,184. Community West Bancshares has a fifty-two week low of $20.70 and a fifty-two week high of $28.17. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $713.27 million, a price-to-earnings ratio of 14.21 and a beta of 0.82. The stock has a fifty day moving average of $26.05 and a 200-day moving average of $25.39.

Insider Buying and Selling

In related news, Director Jagroop Gill acquired 4,770 shares of the firm's stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $24.88 per share, with a total value of $118,677.60. Following the completion of the acquisition, the director owned 588,067 shares of the company's stock, valued at $14,631,106.96. This trade represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought a total of 5,374 shares of company stock worth $133,078 in the last three months. 9.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Community West Bancshares in a research report on Tuesday, October 6th. Benchmark upgraded shares of Community West Bancshares to a "strong-buy" rating in a report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.17.

About Community West Bancshares

Community West Bancshares is a bank holding company headquartered in Goleta, California. Through its wholly owned subsidiary, Community West Bank, the company provides banking and financial services primarily to businesses, professionals, nonprofit organizations and individuals.

Community West Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration lending and residential mortgage products. Its deposit and business banking services include checking and savings accounts, certificates of deposit, online banking, cash management and other treasury management solutions.

The company serves customers through offices and banking operations focused on California's Central Coast, including the Santa Barbara, Ventura and San Luis Obispo areas.

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