Commercewest Bank Com (CWBK) Lifted to Hold at Zacks Investment Research
Commercewest Bank Com (NASDAQ:CWBK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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) traded up 0.45% during mid-day trading on Wednesday, hitting $22.30. The company had a trading volume of 317 shares. The firm has a market cap of $85.03 million and a PE ratio of 17.98. Commercewest Bank Com has a 12-month low of $15.65 and a 12-month high of $23.00. The firm’s 50 day moving average is $22.28 and its 200-day moving average is $20.92.
Commercewest Bank Com (NASDAQ:CWBK) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.08). The firm had revenue of $5.27 million during the quarter, compared to the consensus estimate of $5.60 million. On average, equities analysts expect that Commercewest Bank Com will post $1.38 EPS for the current year.
Commercewest Bank Com Company Profile
CommerceWest Bank, N.A. provides various commercial banking services to the small and mid-sized businesses in southern California. It offers checking accounts, money market deposit accounts, saving accounts, certificates of deposits, sweep accounts, attorney client trust accounts, and now and escrow trust accounts; and real estate loans, such as owner user commercial real estate loans, commercial or industrial building loans, office and retail building loans, and multi-family real estate loans.
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