Commercewest Bank (CWBK) Lifted to Buy at Zacks Investment Research

Commercewest Bank (OTCBB:CWBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $26.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 9.70% from the stock’s previous close.

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 (OTCBB:CWBK) traded up $0.20 during trading on Tuesday, hitting $23.70. The stock had a trading volume of 100 shares, compared to its average volume of 4,934. The company has a market capitalization of $90.99, a price-to-earnings ratio of 18.52 and a beta of 2.12. Commercewest Bank has a twelve month low of $17.90 and a twelve month high of $24.30.

Commercewest Bank (OTCBB:CWBK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $5.45 million during the quarter, compared to analyst estimates of $5.70 million. equities analysts expect that Commercewest Bank will post 1.31 EPS for the current year.

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About Commercewest Bank

CommerceWest Bank, N.A. provides various commercial banking services to the small and mid-sized businesses in southern California. It offers checking accounts, money market deposit accounts, saving accounts, certificates of deposits, sweep accounts, attorney client trust accounts, and now and escrow trust accounts; and real estate loans, such as owner user commercial real estate loans, commercial or industrial building loans, office and retail building loans, and multi-family real estate loans.

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