Zacks Investment Research upgraded shares of Commercewest Bank (OTCBB:CWBK) from a strong sell rating to a hold rating in a research note issued to investors on Monday. The brokerage currently has $26.00 price target on the stock.
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) opened at $22.67 on Monday. Commercewest Bank has a 12-month low of $17.08 and a 12-month high of $23.50. The firm has a market capitalization of $87.77, a P/E ratio of 17.71 and a beta of 2.12.
Commercewest Bank (OTCBB:CWBK) last issued its earnings results on Thursday, October 26th. The company reported $0.33 earnings per share 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 the consensus estimate of $5.70 million. equities research analysts predict that Commercewest Bank will post 1.31 EPS for the current fiscal year.
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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