FY2024 EPS Estimates for Community West Bancshares Reduced by DA Davidson (NASDAQ:CWBC)

Community West Bancshares (NASDAQ:CWBC) – Equities research analysts at DA Davidson lowered their FY2024 earnings estimates for Community West Bancshares in a report issued on Tuesday, April 23rd. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $1.67 for the year, down from their previous estimate of $2.08. The consensus estimate for Community West Bancshares’ current full-year earnings is $1.68 per share.

Several other research firms have also recently weighed in on CWBC. TheStreet cut shares of Community West Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Community West Bancshares from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday. StockNews.com cut shares of Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Piper Sandler boosted their price objective on shares of Community West Bancshares from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Community West Bancshares presently has an average rating of “Hold” and an average price target of $20.33.

Community West Bancshares Stock Performance

NASDAQ CWBC opened at $18.00 on Thursday. The firm has a market cap of $160.38 million, a price-to-earnings ratio of 9.52 and a beta of 0.85. The company has a 50 day moving average of $16.14 and a 200-day moving average of $15.18. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.34. Community West Bancshares has a 1-year low of $12.59 and a 1-year high of $24.47.

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

Institutional Trading of Community West Bancshares

A hedge fund recently raised its stake in Community West Bancshares stock. Black Maple Capital Management LP boosted its holdings in shares of Community West Bancshares (NASDAQ:CWBC) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,475 shares of the financial services provider’s stock after acquiring an additional 1,417 shares during the period. Black Maple Capital Management LP owned 0.20% of Community West Bancshares worth $304,000 as of its most recent filing with the SEC. 33.80% of the stock is owned by institutional investors and hedge funds.

Community West Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, May 2nd. This is a positive change from Community West Bancshares’s previous quarterly dividend of $0.08. Community West Bancshares’s payout ratio is currently 25.40%.

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.