Community West Bancshares (NASDAQ:CWBC) Stock Crosses Above 200-Day Moving Average – Here’s Why
by Tristan Rich · The Markets DailyCommunity West Bancshares (NASDAQ:CWBC – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.42 and traded as high as $22.71. Community West Bancshares shares last traded at $22.55, with a volume of 105,519 shares.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Community West Bancshares in a research note on Monday, December 29th. DA Davidson raised their price target on Community West Bancshares from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, January 26th. Zacks Research downgraded Community West Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Community West Bancshares from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Community West Bancshares has a consensus rating of “Moderate Buy” and an average target price of $24.33.
Check Out Our Latest Research Report on CWBC
Community West Bancshares Trading Down 0.9%
The stock has a market cap of $428.45 million, a P/E ratio of 11.18 and a beta of 0.91. The stock’s 50-day moving average is $23.60 and its two-hundred day moving average is $22.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.85 and a quick ratio of 0.85.
Community West Bancshares (NASDAQ:CWBC – Get Free Report) 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 analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $32.89 million for the quarter, compared to the consensus estimate of $38.38 million. Community West Bancshares had a net margin of 19.45% and a return on equity of 9.94%. Equities research analysts anticipate that Community West Bancshares will post 2.15 EPS for the current year.
Community West Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, February 6th. Community West Bancshares’s payout ratio is 24.00%.
Hedge Funds Weigh In On Community West Bancshares
Several institutional investors have recently added to or reduced their stakes in CWBC. Russell Investments Group Ltd. raised its stake in Community West Bancshares by 623.7% during the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,709 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Community West Bancshares in the 2nd quarter worth $46,000. Tower Research Capital LLC TRC increased 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 buying an additional 1,393 shares during the last quarter. CWM LLC raised its position in shares of Community West Bancshares by 255.4% during the 3rd quarter. CWM LLC now owns 3,184 shares of the financial services provider’s stock valued at $66,000 after buying an additional 2,288 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Community West Bancshares by 2,945.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,381 shares of the financial services provider’s stock valued at $76,000 after buying an additional 3,270 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.
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.