Community West Bancshares (NASDAQ:CWBC) Expected to Earn FY2024 Earnings of $1.67 Per Share

Community West Bancshares (NASDAQ:CWBC - Free Report) - Stock analysts at DA Davidson dropped their FY2024 earnings per share estimates for shares of Community West Bancshares in a research note issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $1.67 per share for the year, down from their previous estimate of $2.08. The consensus estimate for Community West Bancshares' current full-year earnings is $1.68 per share.

A number of other analysts have also commented on CWBC. StockNews.com lowered Community West Bancshares from a "hold" rating to a "sell" rating in a report on Monday. Keefe, Bruyette & Woods reduced their target price on Community West Bancshares from $23.00 to $22.00 and set a "market perform" rating for the company in a report on Monday. Piper Sandler upped their target price on Community West Bancshares from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Finally, TheStreet lowered Community West Bancshares from a "b-" rating to a "c+" rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.33.

Community West Bancshares Stock Up 0.2 %

CWBC traded up $0.03 during midday trading on Thursday, reaching $18.00. 45,667 shares of the company were exchanged, compared to its average volume of 43,276. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 0.65. The company's fifty day moving average price is $16.07 and its 200 day moving average price is $15.16. The company has a market cap of $160.38 million, a price-to-earnings ratio of 9.51 and a beta of 0.85. Community West Bancshares has a one year low of $12.59 and a one year high of $24.47.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last announced its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.19). The business had revenue of $11.02 million during the quarter, compared to analyst estimates of $11.60 million. Community West Bancshares had a net margin of 20.04% and a return on equity of 11.58%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Community West Bancshares stock. Black Maple Capital Management LP boosted its position in Community West Bancshares (NASDAQ:CWBC - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,475 shares of the financial services provider's stock after acquiring an additional 1,417 shares during the quarter. Black Maple Capital Management LP owned 0.20% of Community West Bancshares worth $304,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 33.80% of the company's stock.

Community West Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.48 annualized dividend and a dividend yield of 2.67%. This is an increase from Community West Bancshares's previous quarterly dividend of $0.08. Community West Bancshares's dividend payout ratio is currently 25.40%.

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.