DA Davidson Cuts Community West Bancshares (NASDAQ:CWBC) Price Target to $24.00

Community West Bancshares (NASDAQ:CWBC) had its price objective decreased by DA Davidson from $26.00 to $24.00 in a research note published on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods decreased their target price on Community West Bancshares from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Community West Bancshares presently has an average rating of “Moderate Buy” and an average price target of $23.33.

Community West Bancshares Trading Up 1.1 %

Shares of Community West Bancshares stock opened at $19.41 on Monday. The firm has a 50-day simple moving average of $20.14 and a two-hundred day simple moving average of $19.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. Community West Bancshares has a fifty-two week low of $15.50 and a fifty-two week high of $24.47. The company has a market cap of $367.74 million, a P/E ratio of 29.41 and a beta of 0.92.

Community West Bancshares (NASDAQ:CWBC) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). Community West Bancshares had a return on equity of 8.14% and a net margin of 4.53%. As a group, equities analysts predict that Community West Bancshares will post 1.61 earnings per share for the current fiscal year.

Community West Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, February 7th. Community West Bancshares’s payout ratio is 92.31%.

Insiders Place Their Bets

In other Community West Bancshares news, Director Robert Bartlein acquired 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $18.75 per share, for a total transaction of $37,500.00. Following the acquisition, the director now owns 433,876 shares in the company, valued at approximately $8,135,175. The trade was a 0.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven D. Mcdonald sold 9,155 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $21.51, for a total transaction of $196,924.05. Following the completion of the transaction, the director now directly owns 317,391 shares in the company, valued at $6,827,080.41. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 2,432 shares of company stock worth $45,616. Corporate insiders own 11.15% of the company’s stock.

Institutional Investors Weigh In On Community West Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in CWBC. Dimensional Fund Advisors LP grew its holdings in Community West Bancshares by 284.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock valued at $11,864,000 after buying an additional 474,671 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Community West Bancshares during the 2nd quarter valued at about $1,153,000. The Manufacturers Life Insurance Company grew its holdings in shares of 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 valued at $6,770,000 after purchasing an additional 243,165 shares during the period. Systematic Financial Management LP acquired a new stake in Community West Bancshares during the second quarter worth about $4,842,000. Finally, SG Americas Securities LLC purchased a new position in Community West Bancshares during the third quarter worth about $132,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Community West Bancshares Company Profile

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.