Key Points
- Director Jagroop Gill purchased 4,770 CWBC shares at $24.88 each, investing $118,677.60 and increasing his direct ownership to 588,067 shares.
- Community West Bancshares reported quarterly EPS of $0.45, exceeding the $0.30 consensus estimate, while revenue of $54.3 million fell slightly short of expectations.
- The company declared a quarterly dividend of $0.12 per share, equivalent to a 1.9% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $28.17.
Community West Bancshares (NASDAQ:CWBC - Get Free Report) Director Jagroop Gill acquired 4,770 shares of the business's stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $24.88 per share, for a total transaction of $118,677.60. Following the completion of the acquisition, the director directly owned 588,067 shares of the company's stock, valued at approximately $14,631,106.96. This trade represents a 0.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
Community West Bancshares Trading Down 1.2%
Community West Bancshares stock opened at $24.90 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. Community West Bancshares has a 52 week low of $18.77 and a 52 week high of $28.17. The company has a market capitalization of $675.54 million, a price-to-earnings ratio of 13.46 and a beta of 0.80. The stock has a 50-day moving average price of $25.97 and a 200 day moving average price of $24.49.
Community West Bancshares (NASDAQ:CWBC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.15. Community West Bancshares had a net margin of 16.86% and a return on equity of 11.35%. The company had revenue of $54.30 million for the quarter, compared to the consensus estimate of $55.65 million. Sell-side analysts anticipate that Community West Bancshares will post 2.38 EPS for the current year.
Community West Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 7th. Community West Bancshares's dividend payout ratio is 25.95%.
Analysts Set New Price Targets
CWBC has been the subject of several recent research reports. Piper Sandler raised their target price on shares of Community West Bancshares from $30.00 to $30.50 and gave the stock an "overweight" rating in a report on Monday, April 27th. Wall Street Zen raised Community West Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. DA Davidson reiterated a "buy" rating and set a $29.00 price objective on shares of Community West Bancshares in a research note on Tuesday, April 28th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Community West Bancshares in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.17.
Read Our Latest Report on CWBC
Institutional Trading of Community West Bancshares
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Community West Bancshares during the 2nd quarter worth approximately $64,110,000. Dimensional Fund Advisors LP increased its holdings in Community West Bancshares by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 840,454 shares of the financial services provider's stock worth $19,582,000 after acquiring an additional 38,044 shares in the last quarter. Systematic Financial Management LP increased its holdings in Community West Bancshares by 34.1% in the 4th quarter. Systematic Financial Management LP now owns 411,859 shares of the financial services provider's stock worth $9,267,000 after acquiring an additional 104,779 shares in the last quarter. State Street Corp raised its position in Community West Bancshares by 5.1% during the fourth quarter. State Street Corp now owns 334,322 shares of the financial services provider's stock worth $7,522,000 after acquiring an additional 16,340 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Community West Bancshares by 85.5% during the fourth quarter. Renaissance Technologies LLC now owns 167,008 shares of the financial services provider's stock valued at $3,758,000 after purchasing an additional 77,000 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.
About Community West Bancshares
(
Get Free Report)
Community West Bancshares, Inc is the bank holding company for Community West Bank, headquartered in Goleta, California. Through its wholly owned subsidiary, the company offers a full suite of commercial and consumer banking services. Community West Bancshares focuses on providing personalized financial solutions to small and mid-sized businesses, professional practices, and individual customers in its service area.
The company's product portfolio includes a variety of deposit accounts—such as business checking, savings and money market accounts—along with online and mobile banking capabilities.
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