Community West Bancshares (NASDAQ:CWBC) Issues Earnings Results

Community West Bancshares (NASDAQ:CWBC) issued its quarterly earnings results on Monday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Zacks reports. The firm had revenue of $34.79 million during the quarter, compared to analyst estimates of $35.05 million. Community West Bancshares had a return on equity of 7.90% and a net margin of 4.59%.

Community West Bancshares Price Performance

Shares of NASDAQ:CWBC opened at $16.55 on Wednesday. Community West Bancshares has a twelve month low of $15.57 and a twelve month high of $22.89. The stock’s 50 day moving average is $17.84 and its 200-day moving average is $19.03. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $315.46 million, a price-to-earnings ratio of 31.83 and a beta of 0.78.

Wall Street Analysts Forecast Growth

CWBC has been the topic of a number of recent analyst reports. StockNews.com raised Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods cut their price target on Community West Bancshares from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Tuesday. Piper Sandler reduced their price objective on shares of Community West Bancshares from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, DA Davidson cut their target price on shares of Community West Bancshares from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, January 27th.

Insider Activity at Community West Bancshares

In other news, President Martin E. Plourd sold 7,732 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $19.26, for a total value of $148,918.32. Following the transaction, the president now owns 82,737 shares in the company, valued at $1,593,514.62. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James J. Kim purchased 1,600 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $17.36 per share, with a total value of $27,776.00. Following the acquisition, the chief executive officer now directly owns 60,178 shares of the company’s stock, valued at $1,044,690.08. This represents a 2.73 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,805 shares of company stock valued at $104,788. 10.57% of the stock is owned by company insiders.

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.