Community West Bancshares (NASDAQ:CWBC) Hits New 1-Year High – Here’s What Happened

Community West Bancshares (NASDAQ:CWBC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $27.82 and last traded at $27.71, with a volume of 43223 shares changing hands. The stock had previously closed at $27.15.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CWBC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Community West Bancshares in a research note on Friday, July 10th. DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Community West Bancshares in a report on Tuesday, April 28th. Wall Street Zen raised shares of Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Piper Sandler raised their target price on shares of Community West Bancshares from $30.00 to $30.50 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.17.

Community West Bancshares Stock Performance

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a market cap of $759.64 million, a PE ratio of 12.96 and a beta of 0.80. The stock’s 50 day simple moving average is $25.18 and its two-hundred day simple moving average is $24.07.

Community West Bancshares (NASDAQ:CWBC) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $38.58 million during the quarter, compared to analysts’ expectations of $38.23 million. Community West Bancshares had a net margin of 20.77% and a return on equity of 10.44%. As a group, research analysts anticipate that Community West Bancshares will post 2.63 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Community West Bancshares’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Investors Weigh In On Community West Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Community West Bancshares by 17.6% in the 4th quarter. CWM LLC now owns 3,744 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 560 shares during the period. Hsbc Holdings PLC boosted its position in Community West Bancshares by 3.3% during the 4th quarter. Hsbc Holdings PLC now owns 22,919 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 723 shares during the period. First Trust Advisors LP increased its holdings in Community West Bancshares by 7.0% in the 2nd quarter. First Trust Advisors LP now owns 12,165 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 794 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in Community West Bancshares by 4.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 28,321 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Community West Bancshares by 75.5% in the second 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 period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.