Community West Bancshares (NASDAQ:CWBC) Posts Earnings Results, Beats Expectations By $0.09 EPS

Community West Bancshares (NASDAQ:CWBC) released its quarterly earnings data on Thursday. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09, FiscalAI reports. Community West Bancshares had a return on equity of 10.12% and a net margin of 16.86%. The company had revenue of $57.69 million during the quarter, compared to analysts’ expectations of $56.79 million.

Community West Bancshares Stock Performance

CWBC traded up $0.71 during trading on Thursday, hitting $26.29. The stock had a trading volume of 253,175 shares, compared to its average volume of 239,184. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day moving average price of $26.05 and a 200-day moving average price of $25.39. Community West Bancshares has a one year low of $20.70 and a one year high of $28.17. The firm has a market cap of $713.27 million, a price-to-earnings ratio of 14.21 and a beta of 0.82.

Insiders Place Their Bets

In other news, Director Jagroop Gill acquired 4,770 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $24.88 per share, for a total transaction of $118,677.60. Following the transaction, the director directly owned 588,067 shares of the company’s stock, valued at approximately $14,631,106.96. This represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 5,374 shares of company stock worth $133,078. 9.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CWBC shares. Benchmark raised Community West Bancshares to a “strong-buy” rating in a report on Wednesday, September 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Community West Bancshares in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.17.

About Community West Bancshares

Community West Bancshares is a bank holding company headquartered in Goleta, California. Through its wholly owned subsidiary, Community West Bank, the company provides banking and financial services primarily to businesses, professionals, nonprofit organizations and individuals.

Community West Bank offers commercial and industrial lending, commercial real estate loans, construction financing, Small Business Administration lending and residential mortgage products. Its deposit and business banking services include checking and savings accounts, certificates of deposit, online banking, cash management and other treasury management solutions.

The company serves customers through offices and banking operations focused on California’s Central Coast, including the Santa Barbara, Ventura and San Luis Obispo areas.