Zacks Investment Research lowered shares of Commercewest Bank Com (NASDAQ:CWBK) from a hold rating to a sell rating in a report issued on Friday morning.
According to Zacks, “CommerceWest Bank provides a wide range of specialized commercial banking and financial services to entrepreneurs and small- to mid-sized businesses in southern California. Headquartered in Irvine, California, the company offers basic and analyzed checking accounts, money market accounts, saving accounts, certificates of deposit, attorney client services, and escrow accounts. The banks lending portfolio includes lines of credit; term loans; multifamily, construction, and commercial real estate loans; equipment financing; asset-based lines of credit; small business administration loans; state guaranteed programs; and letter of credit. It also offers online banking services, such as balance transfers, stop payments, make loan payments, and loan transfers. The company also offers various cash management services, signature services, and turnaround services. Regional offices are located throughout Southern California in Orange County, Inland Empire and Los Angeles. “
Commercewest Bank Com (NASDAQ:CWBK) opened at 20.16 on Friday. The company has a market cap of $78.04 million and a price-to-earnings ratio of 15.75. The stock has a 50 day moving average of $18.70 and a 200-day moving average of $17.88. Commercewest Bank Com has a one year low of $14.55 and a one year high of $20.50.
Commercewest Bank Com (NASDAQ:CWBK) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $5.64 million for the quarter, compared to analysts’ expectations of $5.40 million. On average, equities analysts predict that Commercewest Bank Com will post $1.46 EPS for the current fiscal year.
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