Zacks Investment Research cut shares of Commercewest Bank Com (NASDAQ:CWBK) from a hold rating to a sell rating in a research note published on Friday, May 12th.
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) remained flat at $20.90 during trading on Friday. The stock had a trading volume of 100 shares. Commercewest Bank Com has a 12-month low of $14.57 and a 12-month high of $21.05. The company has a market cap of $80.90 million and a P/E ratio of 16.33. The firm has a 50-day moving average of $20.13 and a 200-day moving average of $18.62.
Commercewest Bank Com (NASDAQ:CWBK) last issued its earnings results on Tuesday, April 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.04. The company had revenue of $5.64 million during the quarter, compared to analysts’ expectations of $5.40 million. On average, equities analysts expect that Commercewest Bank Com will post $1.46 EPS for the current fiscal year.
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