Community West Bancshares (NASDAQ:CWBC) Price Target Increased to $24.00 by Analysts at Piper Sandler

Community West Bancshares (NASDAQ:CWBC) had its price objective raised by Piper Sandler from $22.00 to $24.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com initiated coverage on Community West Bancshares in a report on Tuesday, April 2nd. They set a hold rating on the stock. TheStreet downgraded Community West Bancshares from a b- rating to a c+ rating in a report on Monday, January 29th.

Community West Bancshares Stock Performance

Shares of NASDAQ:CWBC opened at $17.97 on Monday. The company has a market cap of $160.11 million, a P/E ratio of 8.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 0.65. Community West Bancshares has a one year low of $12.59 and a one year high of $24.47. The business’s 50-day simple moving average is $15.51 and its 200 day simple moving average is $14.92.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.02). The company had revenue of $22.38 million for the quarter, compared to analysts’ expectations of $21.86 million. Community West Bancshares had a net margin of 23.39% and a return on equity of 13.47%. On average, sell-side analysts forecast that Community West Bancshares will post 1.85 earnings per share for the current fiscal year.

Community West Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 9th were issued a $0.08 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.78%. Community West Bancshares’s dividend payout ratio (DPR) is 22.12%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Community West Bancshares by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 76,894 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 4,986 shares during the period. Bridgeway Capital Management LLC boosted its position in Community West Bancshares by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 115,322 shares of the financial services provider’s stock valued at $2,005,000 after purchasing an additional 844 shares during the period. Buckingham Strategic Partners LLC acquired a new position in Community West Bancshares during the 4th quarter valued at approximately $544,000. Black Maple Capital Management LP boosted its position in Community West Bancshares by 8.8% during the 4th quarter. Black Maple Capital Management LP now owns 17,475 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 1,417 shares during the period. Finally, Royal Bank of Canada acquired a new position in Community West Bancshares during the 4th quarter valued at approximately $90,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

About Community West Bancshares

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.