DA Davidson Issues Pessimistic Forecast for Community West Bancshares (NASDAQ:CWBC) Stock Price

Community West Bancshares (NASDAQ:CWBC) had its target price cut by DA Davidson from $26.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 23.65% from the company’s previous close.

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Community West Bancshares from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.33.

Community West Bancshares Stock Performance

CWBC stock traded up $0.21 during trading on Monday, reaching $19.41. 66,502 shares of the stock were exchanged, compared to its average volume of 41,575. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $20.14 and a 200-day simple moving average of $19.75. The company has a market capitalization of $367.82 million, a P/E ratio of 29.41 and a beta of 0.92. Community West Bancshares has a twelve month low of $15.50 and a twelve month high of $24.47.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Community West Bancshares had a return on equity of 8.14% and a net margin of 4.53%. As a group, sell-side analysts anticipate that Community West Bancshares will post 1.61 earnings per share for the current year.

Insider Buying and Selling at Community West Bancshares

In other Community West Bancshares news, Director Robert Bartlein acquired 2,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $18.75 per share, with a total value of $37,500.00. Following the completion of the purchase, the director now owns 433,876 shares of the company’s stock, valued at approximately $8,135,175. This represents a 0.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven D. Mcdonald sold 9,155 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $21.51, for a total transaction of $196,924.05. Following the completion of the sale, the director now owns 317,391 shares of the company’s stock, valued at approximately $6,827,080.41. This represents a 2.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 2,432 shares of company stock worth $45,616. 11.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Community West Bancshares by 284.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock valued at $11,864,000 after purchasing an additional 474,671 shares during the period. Renaissance Technologies LLC bought a new position in Community West Bancshares in the 2nd quarter worth about $1,153,000. The Manufacturers Life Insurance Company boosted its stake in Community West Bancshares by 198.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 365,965 shares of the financial services provider’s stock worth $6,770,000 after purchasing an additional 243,165 shares in the last quarter. Systematic Financial Management LP bought a new position in Community West Bancshares during the 2nd quarter valued at about $4,842,000. Finally, SG Americas Securities LLC bought a new position in Community West Bancshares during the 3rd quarter valued at about $132,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

About Community West Bancshares

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.