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

Community West Bancshares (NASDAQ:CWBC) – Equities researchers at DA Davidson dropped their FY2024 earnings per share estimates for Community West Bancshares in a report released on Tuesday, April 23rd. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $1.67 per share 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.

Community West Bancshares (NASDAQ:CWBC) last released its earnings results on Friday, January 26th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.19). The firm had revenue of $11.02 million during 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%.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods cut their target price on 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 downgraded Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Monday. Piper Sandler increased their price objective on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, TheStreet downgraded Community West Bancshares from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One investment 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 has an average rating of “Hold” and a consensus target price of $20.33.

Community West Bancshares Stock Performance

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

Community West Bancshares Increases Dividend

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

Institutional Trading of Community West Bancshares

An institutional investor recently raised its position in Community West Bancshares stock. Black Maple Capital Management LP raised its position in shares of Community West Bancshares (NASDAQ:CWBC) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,475 shares of the financial services provider’s stock after purchasing an additional 1,417 shares during the quarter. Black Maple Capital Management LP owned 0.20% of Community West Bancshares worth $304,000 at the end of the most recent quarter. Institutional investors own 33.80% of the company’s stock.

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.