Commencement Bancorp Inc (OTCMKTS:CBWA) Stock On Watchlist After Q2 Earnings

There are a number of stocks which are expected to come into focus among investors in a big way today but it is important for you to be a bit selective with the stocks that you choose to track. One of the stocks that you may consider looking into this morning is that of Commencement Bancorp Inc (OTCMKTS:CBWA).

There has been certain developments in recent times that may make it worth your while to take a look into the company a bit more closely. However, before getting into those, it may be a good move from investors to perhaps take a look at the nature of the company and its business with a bit more keenness.

Trading Data

On Friday, CBWA stock ended flat at $11.30 with more than 1.5K shares, compared to its average volume of 1.6K shares. The stock moved within a range of $11.30 – 11.30 after opening trade at $11.03.   

About Commencement Bancorp

The company operates in the form of a holding company and is actually the parent company of Commencement Bank, which is based out of Tacoma in Washington. In this context, it ought to be noted that Commencement Bank had been founded back in 2006 with the purpose of providing reliable, sustainable and traditional banking services in the counties of Thurston, Pierce and King as well as the peripheral areas of those counties.

Commencement Bank has been successful in putting together a team of highly capable experts who provide the bank’s customers with individual attention and flexible service. Consequently, that allows the bank to build long lasting and strong relationships with its customers. More importantly, it is important to note that the bank is very much committed to the communities that it serves and that is something that can often prove to be a significant competitive advantage in the long run.

Commencement Bancorp, Inc. (CBWA) Announces 2022 Second Quarter Financial Results

This past Friday Commencement Bancorp was in the news after it announced its financial results for the second fiscal quarter that had ended on June 30, 2022. The company announced that it had managed to bring in net income to the tune of $1.1 million and that worked out to earnings per share to the tune of $0.27. In the prior year quarter, the company had ended up with a loss of $62000.

The losses in the prior year quarter were due to the significant provisions that had been made by Commencement Bancorp towards Allowance for Loan and Lease Losses. At the end of the quarter, the total assets under the company’s control stood at $552 million and that was a drop to asset valuation of $562 million in the prior year quarter.

However, at the same time, it is perhaps important to point out that Commencement Bancorp noted that during the course of the second quarter, its asset composition improved considerably. That was mainly due to the fact that the company decided on the deployment of excess overnight funds for the purpose of supporting the loan growth to the tune of $44 million.

When compared to the previous quarter, the loans in the company’s books went up by as much as 13%. It now remains to be seen if the Commencement Bancorp stock can gain some traction from investors over the course of this week or not.

Technical Data

CBWA stock is trading below the 20-Day and 50-Day Moving averages of $11.45 and $11.78 respectively. Moreover, the stock is trading below the 200-Day moving average of $13.16. The company has a total market capitalization of $45.81 million. The stock is down 21% over the past month.