DA Davidson Boosts Community West Bancshares (NASDAQ:CWBC) Price Target to $29.00

Community West Bancshares (NASDAQ:CWBC) had its price objective raised by research analysts at DA Davidson from $26.00 to $29.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 23.56% from the company’s current price.

A number of other brokerages have also issued reports on CWBC. Keefe, Bruyette & Woods raised their price target on Community West Bancshares from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 31st. Zacks Research upgraded Community West Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Community West Bancshares in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Community West Bancshares presently has a consensus rating of “Buy” and a consensus target price of $24.33.

Community West Bancshares Price Performance

CWBC stock opened at $23.47 on Monday. The stock has a market cap of $449.69 million, a PE ratio of 11.74 and a beta of 0.92. Community West Bancshares has a 12 month low of $15.57 and a 12 month high of $24.67. The company has a 50-day moving average price of $22.93 and a 200 day moving average price of $21.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Community West Bancshares had a net margin of 19.45% and a return on equity of 10.11%. The company had revenue of $38.30 million for the quarter, compared to analyst estimates of $38.38 million. Equities research analysts anticipate that Community West Bancshares will post 2.15 earnings per share for the current year.

Institutional Investors Weigh In On Community West Bancshares

Several large investors have recently modified their holdings of the business. CWM LLC lifted its holdings in Community West Bancshares by 17.6% during the fourth quarter. CWM LLC now owns 3,744 shares of the financial services provider’s stock worth $84,000 after buying an additional 560 shares during the period. Farther Finance Advisors LLC lifted its position in Community West Bancshares by 2,945.9% during the fourth quarter. Farther Finance Advisors LLC now owns 3,381 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,270 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in Community West Bancshares during the fourth quarter valued at approximately $267,000. JPMorgan Chase & Co. boosted its stake in Community West Bancshares by 37.5% in the third quarter. JPMorgan Chase & Co. now owns 29,358 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 8,001 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Community West Bancshares by 21.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 26,497 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 4,752 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

Community West Bancshares Company Profile

Community West Bancshares, Inc is the bank holding company for Community West Bank, headquartered in Goleta, California. Through its wholly owned subsidiary, the company offers a full suite of commercial and consumer banking services. Community West Bancshares focuses on providing personalized financial solutions to small and mid-sized businesses, professional practices, and individual customers in its service area.

The company’s product portfolio includes a variety of deposit accounts—such as business checking, savings and money market accounts—along with online and mobile banking capabilities.