Community West Bancshares (NASDAQ:CWBC) Releases Earnings Results, Misses Expectations By $0.02 EPS

Community West Bancshares (NASDAQ:CWBC) announced its earnings results on Monday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02), Zacks reports. Community West Bancshares had a net margin of 4.59% and a return on equity of 7.90%. The business had revenue of $34.79 million during the quarter, compared to the consensus estimate of $35.05 million.

Community West Bancshares Stock Up 3.6 %

Shares of CWBC opened at $16.55 on Wednesday. The firm has a 50 day simple moving average of $17.84 and a two-hundred day simple moving average of $19.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.82. Community West Bancshares has a one year low of $15.57 and a one year high of $22.89. The company has a market cap of $315.46 million, a P/E ratio of 31.83 and a beta of 0.78.

Insider Activity

In related news, CEO James J. Kim purchased 1,600 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $17.36 per share, with a total value of $27,776.00. Following the acquisition, the chief executive officer now owns 60,178 shares of the company’s stock, valued at $1,044,690.08. This trade represents a 2.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Martin E. Plourd sold 7,732 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $19.26, for a total transaction of $148,918.32. Following the transaction, the president now owns 82,737 shares of the company’s stock, valued at approximately $1,593,514.62. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 5,805 shares of company stock worth $104,788. Insiders own 10.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CWBC shares. Keefe, Bruyette & Woods lowered their target price on shares of Community West Bancshares from $21.00 to $19.00 and set a “market perform” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on Community West Bancshares from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday. DA Davidson cut their target price on Community West Bancshares from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Finally, StockNews.com upgraded Community West Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, January 27th.

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.