Community West Bancshares (NASDAQ:CWBC) Given New $24.00 Price Target at Keefe, Bruyette & Woods

Community West Bancshares (NASDAQ:CWBC) had its target price boosted by Keefe, Bruyette & Woods from $21.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 9.74% from the company’s previous close.

Community West Bancshares Price Performance

Community West Bancshares stock traded down $0.01 during trading hours on Wednesday, hitting $21.87. 8,991 shares of the company traded hands, compared to its average volume of 50,346. Community West Bancshares has a 1-year low of $15.50 and a 1-year high of $24.47. The firm has a market cap of $414.44 million, a P/E ratio of 33.14 and a beta of 0.90. The firm’s 50-day simple moving average is $19.62 and its two-hundred day simple moving average is $19.12. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In related news, Director Robert Bartlein bought 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $18.75 per share, with a total value of $37,500.00. Following the purchase, the director now directly owns 433,876 shares of the company’s stock, valued at approximately $8,135,175. This represents a 0.46 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 2,432 shares of company stock worth $45,616. 11.15% of the stock is owned by insiders.

Institutional Trading of Community West Bancshares

Several large investors have recently made changes to their positions in CWBC. Systematic Financial Management LP acquired a new stake in Community West Bancshares during the second quarter worth $4,842,000. Victory Capital Management Inc. acquired a new stake in Community West Bancshares in the 3rd quarter valued at about $847,000. Private Management Group Inc. increased its holdings in shares of Community West Bancshares by 5.3% in the second quarter. Private Management Group Inc. now owns 557,479 shares of the financial services provider’s stock valued at $10,313,000 after purchasing an additional 27,967 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Community West Bancshares during the second quarter worth $1,770,000. Finally, LSV Asset Management acquired a new position in Community West Bancshares during the 2nd quarter valued at about $1,507,000. Institutional investors own 33.80% of the company’s stock.

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.