DA Davidson Weighs in on Community West Bancshares’ FY2024 Earnings (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) – Stock analysts at DA Davidson reduced their FY2024 earnings estimates for Community West Bancshares in a research report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.67 for the year, down from their previous forecast of $2.08. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.58 per share.

Community West Bancshares (NASDAQ:CWBC) last issued its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.19). Community West Bancshares had a return on equity of 11.58% and a net margin of 20.04%. The business had revenue of $11.02 million during the quarter, compared to the consensus estimate of $11.60 million.

Several other equities analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Community West Bancshares from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, April 22nd. TheStreet cut Community West Bancshares from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. StockNews.com cut Community West Bancshares from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Finally, Piper Sandler raised their price target on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Community West Bancshares currently has an average rating of “Hold” and a consensus target price of $20.33.

Community West Bancshares Trading Down 0.9 %

NASDAQ:CWBC opened at $17.83 on Thursday. The firm has a market capitalization of $158.87 million, a P/E ratio of 9.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.65 and a quick ratio of 0.65. Community West Bancshares has a one year low of $12.59 and a one year high of $24.47. The company’s 50-day simple moving average is $16.21 and its 200 day simple moving average is $15.22.

Community West Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $0.12 dividend. The ex-dividend date is Thursday, May 2nd. This is a boost from Community West Bancshares’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a yield of 2.69%. Community West Bancshares’s dividend payout ratio is 25.40%.

Institutional Trading of Community West Bancshares

A hedge fund recently raised its stake in Community West Bancshares stock. Black Maple Capital Management LP increased its holdings in shares of Community West Bancshares (NASDAQ:CWBC) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,475 shares of the financial services provider’s stock after purchasing an additional 1,417 shares during the quarter. Black Maple Capital Management LP owned 0.20% of Community West Bancshares worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.