Commercewest Bank Com (CWBK) Downgraded by Zacks Investment Research to “Sell”
Commercewest Bank Com (NASDAQ:CWBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “CommerceWest Bank provides a wide range of specialized commercial banking and financial services to entrepreneurs and small- to mid-sized businesses in southern California. Headquartered in Irvine, California, the company offers basic and analyzed checking accounts, money market accounts, saving accounts, certificates of deposit, attorney client services, and escrow accounts. The banks lending portfolio includes lines of credit; term loans; multifamily, construction, and commercial real estate loans; equipment financing; asset-based lines of credit; small business administration loans; state guaranteed programs; and letter of credit. It also offers online banking services, such as balance transfers, stop payments, make loan payments, and loan transfers. The company also offers various cash management services, signature services, and turnaround services. Regional offices are located throughout Southern California in Orange County, Inland Empire and Los Angeles. “
Shares of Commercewest Bank Com (CWBK) remained flat at $22.40 during mid-day trading on Thursday. 80 shares of the company were exchanged. The company’s 50 day moving average is $21.93 and its 200 day moving average is $19.95. Commercewest Bank Com has a 12-month low of $14.86 and a 12-month high of $22.75. The firm has a market capitalization of $85.41 million and a P/E ratio of 18.06.
Commercewest Bank Com (NASDAQ:CWBK) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by $0.08. The company had revenue of $5.27 million during the quarter, compared to the consensus estimate of $5.60 million. On average, equities research analysts predict that Commercewest Bank Com will post $1.42 earnings per share for the current year.
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