Piper Sandler Cuts Community West Bancshares (NASDAQ:CWBC) Price Target to $19.00

Community West Bancshares (NASDAQ:CWBC - Get Free Report) had its price objective lowered by Piper Sandler from $22.00 to $19.00 in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target indicates a potential upside of 9.38% from the company's current price.

Other research analysts also recently issued research reports about the company. StockNews.com raised Community West Bancshares from a "sell" rating to a "hold" rating in a research note on Monday, January 27th. DA Davidson dropped their target price on shares of Community West Bancshares from $26.00 to $24.00 and set a "buy" rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price target 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.

Community West Bancshares Price Performance

CWBC stock traded down $0.01 during trading on Tuesday, reaching $17.37. 55,102 shares of the company were exchanged, compared to its average volume of 52,476. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 0.82. The stock's 50 day moving average price is $17.73 and its 200 day moving average price is $19.01. Community West Bancshares has a 52-week low of $15.57 and a 52-week high of $22.89. The company has a market cap of $331.09 million, a P/E ratio of 33.40 and a beta of 0.78.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Community West Bancshares had a return on equity of 7.90% and a net margin of 4.59%. The firm had revenue of $34.79 million for the quarter, compared to analysts' expectations of $35.05 million. As a group, analysts predict that Community West Bancshares will post 2.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Community West Bancshares

In other Community West Bancshares news, CEO James J. Kim bought 1,600 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $27,776.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Martin E. Plourd sold 7,732 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $19.26, for a total value of $148,918.32. Following the transaction, the president now owns 82,737 shares in the company, valued at $1,593,514.62. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 6,805 shares of company stock worth $121,808. Corporate insiders own 10.57% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CWBC. Barclays PLC grew its holdings in Community West Bancshares by 228.5% in the third quarter. Barclays PLC now owns 22,057 shares of the financial services provider's stock valued at $424,000 after purchasing an additional 15,343 shares during the period. State Street Corp increased its holdings in shares of Community West Bancshares by 12.9% during the 3rd quarter. State Street Corp now owns 251,944 shares of the financial services provider's stock worth $4,852,000 after buying an additional 28,695 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Community West Bancshares in the fourth quarter valued at $435,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Community West Bancshares during the fourth quarter worth about $725,000. Finally, PL Capital Advisors LLC increased its stake in Community West Bancshares by 1,837.0% during the fourth quarter. PL Capital Advisors LLC now owns 8,242,923 shares of the financial services provider's stock worth $159,665,000 after acquiring an additional 7,817,372 shares during the last quarter. 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.