Research Analysts Issue Forecasts for Community West Bancshares’ Q3 2024 Earnings (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) – Stock analysts at DA Davidson dropped their Q3 2024 earnings per share estimates for shares of Community West Bancshares in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $0.39 per share for the quarter, down from their prior estimate of $0.46. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.42 per share. DA Davidson also issued estimates for Community West Bancshares’ FY2024 earnings at $1.26 EPS and FY2025 earnings at $2.22 EPS.

Community West Bancshares (NASDAQ:CWBC) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.42. The firm had revenue of $30.46 million during the quarter, compared to the consensus estimate of $37.14 million. Community West Bancshares had a return on equity of 9.99% and a net margin of 7.51%.

Several other research firms have also weighed in on CWBC. StockNews.com lowered Community West Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. Piper Sandler increased their price target on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.33.

Community West Bancshares Stock Performance

NASDAQ:CWBC opened at $18.01 on Friday. The stock’s fifty day moving average is $19.60 and its 200 day moving average is $18.38. Community West Bancshares has a fifty-two week low of $13.74 and a fifty-two week high of $24.47. The firm has a market capitalization of $339.85 million, a PE ratio of 9.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.80 and a current ratio of 0.80.

Institutional Investors Weigh In On Community West Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Community West Bancshares by 284.8% during the second quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock valued at $11,864,000 after purchasing an additional 474,671 shares in the last quarter. Private Management Group Inc. boosted its holdings in Community West Bancshares by 5.3% in the second quarter. Private Management Group Inc. now owns 557,479 shares of the financial services provider’s stock worth $10,313,000 after acquiring an additional 27,967 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Community West Bancshares by 198.0% in the second quarter. The Manufacturers Life Insurance Company now owns 365,965 shares of the financial services provider’s stock worth $6,770,000 after acquiring an additional 243,165 shares in the last quarter. Systematic Financial Management LP acquired a new stake in Community West Bancshares in the second quarter worth about $4,842,000. Finally, American Century Companies Inc. boosted its holdings in Community West Bancshares by 24.6% in the second quarter. American Century Companies Inc. now owns 120,070 shares of the financial services provider’s stock worth $2,221,000 after acquiring an additional 23,738 shares in the last quarter. Institutional investors own 33.80% of the company’s stock.

Insiders Place Their Bets

In other Community West Bancshares news, EVP Patrick A. Luis sold 1,650 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.37, for a total value of $31,960.50. Following the sale, the executive vice president now owns 27,586 shares in the company, valued at $534,340.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.15% of the company’s stock.

Community West Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were paid a $0.12 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 2.67%. Community West Bancshares’s payout ratio is 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.