DA Davidson raised the firm’s price target on Community West Bancshares (CWBC) to $26 from $25 and keeps a Buy rating on the shares. The company announced an agreement to acquire United Security Bank (UBFO), in a $192M all stock acquisition, and the deal represents more of a financial than strategic transaction, the analyst tells investors in a research note. Given similarities between the two companies and overlapping footprint, the integration is expected to be fairly straightforward, the firm added.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWBC: