Community West Bancshares (NASDAQ:CWBC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Community West Bancshares (NASDAQ:CWBC) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.37 and traded as high as $22.93. Community West Bancshares shares last traded at $22.57, with a volume of 82,419 shares trading hands.

Analysts Set New Price Targets

CWBC has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Community West Bancshares from $23.00 to $25.00 and gave the company a “market perform” rating in a research note on Wednesday, December 31st. DA Davidson upped their price objective on Community West Bancshares from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Community West Bancshares in a research report on Monday, December 29th. Finally, Zacks Research lowered Community West Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Community West Bancshares Trading Down 1.1%

The company’s fifty day simple moving average is $23.60 and its two-hundred day simple moving average is $22.37. The company has a market capitalization of $432.44 million, a price-to-earnings ratio of 11.29 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:CWBC) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $38.30 million during the quarter, compared to analyst estimates of $38.38 million. Community West Bancshares had a net margin of 19.45% and a return on equity of 10.11%. Research analysts forecast that Community West Bancshares will post 2.15 earnings per share for the current fiscal year.

Community West Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $0.12 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Community West Bancshares’s payout ratio is currently 24.00%.

Institutional Trading of Community West Bancshares

Several hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Community West Bancshares during the first quarter worth $210,000. Jane Street Group LLC bought a new stake in Community West Bancshares in the 1st quarter valued at $591,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Community West Bancshares by 7.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,747 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 3,633 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Community West Bancshares by 42.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,357 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 6,369 shares during the period. Finally, Rhumbline Advisers boosted its stake in Community West Bancshares by 46.2% in the 2nd quarter. Rhumbline Advisers now owns 25,850 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 8,173 shares during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.