Community West Bancshares price target lowered to $24 from $26 at DA Davidson

DA Davidson analyst Gary Tenner lowered the firm’s price target on Community West Bancshares (CWBC) to $24 from $26 and keeps a Buy rating on the shares after its Q4 results. The bank’s top line revenue increased as the company lowered funding costs sufficiency to drive 21bp of core net interest margin expansion, and core loan yields also increased from Q3, the analyst tells investors in a research note. The core earnings miss was driven by higher expenses, lower fee income, and a higher provision expense, the firm added.