Community West Bancshares (NASDAQ:CWBC – Get Free Report) had its price target reduced by DA Davidson from $26.00 to $24.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 23.84% from the stock’s current price.
Separately, Keefe, Bruyette & Woods decreased their price objective on Community West Bancshares from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.33.
Check Out Our Latest Stock Report on Community West Bancshares
Community West Bancshares Trading Down 0.2 %
Community West Bancshares (NASDAQ:CWBC – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). Community West Bancshares had a net margin of 4.53% and a return on equity of 8.14%. As a group, equities research analysts expect that Community West Bancshares will post 1.61 EPS for the current fiscal year.
Insider Activity
In other Community West Bancshares news, Director Robert Bartlein acquired 2,000 shares of the stock in a transaction on Friday, November 1st. The shares were bought at an average price of $18.75 per share, with a total value of $37,500.00. Following the acquisition, the director now owns 433,876 shares of the company’s stock, valued at $8,135,175. This trade 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 is accessible through this link. Also, Director Steven D. Mcdonald sold 9,155 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $21.51, for a total value of $196,924.05. Following the transaction, the director now owns 317,391 shares in the company, valued at $6,827,080.41. The trade was a 2.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,432 shares of company stock valued at $45,616. Company insiders own 11.15% of the company’s stock.
Institutional Trading of Community West Bancshares
A number of institutional investors have recently modified their holdings of CWBC. Dimensional Fund Advisors LP raised its position in Community West Bancshares by 284.8% in the second quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock worth $11,864,000 after acquiring an additional 474,671 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of Community West Bancshares in the 2nd quarter valued at about $4,842,000. The Manufacturers Life Insurance Company lifted its stake in shares of Community West Bancshares by 198.0% in the second quarter. The Manufacturers Life Insurance Company now owns 365,965 shares of the financial services provider’s stock valued at $6,770,000 after purchasing an additional 243,165 shares during the period. Fourthstone LLC lifted its stake in shares of Community West Bancshares by 8.7% in the third quarter. Fourthstone LLC now owns 1,868,778 shares of the financial services provider’s stock valued at $35,993,000 after purchasing an additional 149,506 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Community West Bancshares during the second quarter worth about $1,153,000. 33.80% of the stock is currently 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.
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