Piper Sandler Raises Community West Bancshares (NASDAQ:CWBC) Price Target to $24.00

Community West Bancshares (NASDAQ:CWBC) had its price objective raised by equities research analysts at Piper Sandler from $22.00 to $24.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 19.11% from the company’s current price.

A number of other analysts have also weighed in on CWBC. Keefe, Bruyette & Woods cut their price objective on shares of Community West Bancshares from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, April 22nd. StockNews.com upgraded Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.33.

Community West Bancshares Price Performance

Shares of NASDAQ CWBC opened at $20.15 on Wednesday. Community West Bancshares has a 52 week low of $13.55 and a 52 week high of $24.47. The business’s 50 day moving average price is $18.02 and its 200 day moving average price is $16.78. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.33. The firm has a market cap of $380.23 million, a P/E ratio of 10.66 and a beta of 0.88.

Insider Buying and Selling at Community West Bancshares

In other Community West Bancshares news, EVP Anthony Kenneth Ramos bought 13,400 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $17.25 per share, for a total transaction of $231,150.00. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $386,072.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 14,881 shares of company stock valued at $256,663. Corporate insiders own 11.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Wealth Advisors LLC purchased a new position in Community West Bancshares in the 2nd quarter valued at about $267,000. Black Maple Capital Management LP lifted its holdings in Community West Bancshares by 8.8% in the 4th quarter. Black Maple Capital Management LP now owns 17,475 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 1,417 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Community West Bancshares in the second quarter worth about $1,770,000. Finally, Private Management Group Inc. acquired a new position in shares of Community West Bancshares during the 1st quarter worth approximately $10,532,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Community West Bancshares Company Profile

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.