Short Interest in Community West Bancshares (NASDAQ:CWBC) Drops By 17.0%

by · The Cerbat Gem

Community West Bancshares (NASDAQ:CWBC – Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 272,400 shares, a drop of 17.0% from the September 15th total of 328,000 shares. Based on an average daily trading volume, of 50,600 shares, the days-to-cover ratio is currently 5.4 days.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com cut Community West Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, July 25th. Piper Sandler boosted their price objective on Community West Bancshares from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.33.

Read Our Latest Research Report on Community West Bancshares

Community West Bancshares Trading Up 1.8 %

CWBC stock traded up $0.34 during midday trading on Wednesday, hitting $19.23. The company had a trading volume of 18,643 shares, compared to its average volume of 49,730. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. Community West Bancshares has a 52 week low of $15.22 and a 52 week high of $24.47. The stock’s 50 day moving average price is $19.40 and its 200 day moving average price is $18.58. The stock has a market cap of $362.87 million, a price-to-earnings ratio of 9.99 and a beta of 0.86.

Community West Bancshares (NASDAQ:CWBC – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.42. The company had revenue of $30.46 million during the quarter, compared to the consensus estimate of $37.14 million. Community West Bancshares had a return on equity of 9.99% and a net margin of 7.51%. As a group, equities research analysts expect that Community West Bancshares will post 1.49 earnings per share for the current fiscal year.

Insider Transactions at Community West Bancshares

In related news, EVP Patrick A. Luis sold 1,650 shares of Community West Bancshares stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.37, for a total value of $31,960.50. Following the completion of the sale, the executive vice president now owns 27,586 shares of the company’s stock, valued at approximately $534,340.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.15% of the company’s stock.

Institutional Investors Weigh In On Community West Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWBC. SG Americas Securities LLC bought a new stake in Community West Bancshares during the 3rd quarter valued at about $132,000. Systematic Financial Management LP purchased a new position in Community West Bancshares during the second quarter valued at approximately $4,842,000. The Manufacturers Life Insurance Company lifted its holdings 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 worth $6,770,000 after buying an additional 243,165 shares in the last quarter. Bridgewealth Advisory Group LLC purchased a new position in shares of Community West Bancshares in the second quarter worth $226,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Community West Bancshares in the second quarter worth $268,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Community West Bancshares Company Profile

(Get Free Report)

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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