Piper Sandler Increases Community West Bancshares (NASDAQ:CWBC) Price Target to $24.00

Community West Bancshares (NASDAQ:CWBC - Get Free Report) had its price objective hoisted by investment analysts at Piper Sandler from $22.00 to $24.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price would suggest a potential upside of 33.56% from the stock's previous close.

A number of other research analysts have also commented on CWBC. StockNews.com started coverage on Community West Bancshares in a research report on Tuesday, April 2nd. They set a "hold" rating for the company. TheStreet downgraded Community West Bancshares from a "b-" rating to a "c+" rating in a report on Monday, January 29th.

Community West Bancshares Trading Up 0.6 %

CWBC traded up $0.11 during midday trading on Monday, reaching $17.97. 45,069 shares of the company's stock traded hands, compared to its average volume of 41,650. The firm has a fifty day moving average of $15.51 and a two-hundred day moving average of $14.92. The stock has a market capitalization of $160.11 million, a price-to-earnings ratio of 8.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.65 and a quick ratio of 0.65. Community West Bancshares has a 52 week low of $12.59 and a 52 week high of $24.47.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.02). The business had revenue of $22.38 million for the quarter, compared to the consensus estimate of $21.86 million. Community West Bancshares had a net margin of 23.39% and a return on equity of 13.47%. On average, equities analysts anticipate that Community West Bancshares will post 1.85 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. Renaissance Technologies LLC bought a new position in shares of Community West Bancshares during the 1st quarter valued at $214,000. First Manhattan Co. lifted its holdings in shares of Community West Bancshares by 4.6% during the 1st quarter. First Manhattan Co. now owns 42,757 shares of the financial services provider's stock valued at $599,000 after buying an additional 1,869 shares during the period. Jane Street Group LLC bought a new position in shares of Community West Bancshares during the 1st quarter valued at $165,000. State Street Corp lifted its holdings in shares of Community West Bancshares by 44.9% during the 2nd quarter. State Street Corp now owns 17,252 shares of the financial services provider's stock valued at $247,000 after buying an additional 5,343 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Community West Bancshares by 5.2% during the 3rd quarter. BlackRock Inc. now owns 31,264 shares of the financial services provider's stock valued at $437,000 after buying an additional 1,556 shares during the period. 33.80% of the stock is owned by institutional investors.

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.