Community West Bancshares (NASDAQ:CWBC) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Community West Bancshares (NASDAQ:CWBCFree Report) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Community West Bancshares from $19.00 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Community West Bancshares in a research report on Wednesday, October 8th. Finally, DA Davidson boosted their target price on Community West Bancshares from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.67.

View Our Latest Analysis on Community West Bancshares

Community West Bancshares Stock Down 2.9%

CWBC stock opened at $20.19 on Tuesday. The stock has a 50-day simple moving average of $20.79 and a two-hundred day simple moving average of $19.26. Community West Bancshares has a twelve month low of $15.57 and a twelve month high of $22.89. The firm has a market capitalization of $386.23 million, a PE ratio of 14.53 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18.

Community West Bancshares (NASDAQ:CWBCGet Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Community West Bancshares had a net margin of 13.88% and a return on equity of 7.91%. On average, equities analysts predict that Community West Bancshares will post 2.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Community West Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Community West Bancshares during the 2nd quarter valued at about $46,000. PNC Financial Services Group Inc. grew its position in Community West Bancshares by 28.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,565 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 565 shares during the last quarter. CWM LLC raised its stake in shares of Community West Bancshares by 255.4% during the third quarter. CWM LLC now owns 3,184 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 2,288 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Community West Bancshares by 75.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,237 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 1,393 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Community West Bancshares by 267.3% in the 1st quarter. Allworth Financial LP now owns 7,015 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 5,105 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Community West Bancshares Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Community West Bancshares (NASDAQ:CWBC)

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