Community West Bancshares (NASDAQ:CWBC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Community West Bancshares (NASDAQ:CWBC) by 17.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,677 shares of the financial services provider’s stock after selling 3,710 shares during the period. Rhumbline Advisers’ holdings in Community West Bancshares were worth $327,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CWBC. Two Sigma Investments LP lifted its stake in shares of Community West Bancshares by 92.8% in the fourth quarter. Two Sigma Investments LP now owns 32,447 shares of the financial services provider’s stock worth $628,000 after acquiring an additional 15,616 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Community West Bancshares in the fourth quarter worth about $435,000. Squarepoint Ops LLC acquired a new position in shares of Community West Bancshares in the fourth quarter worth about $329,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Community West Bancshares in the fourth quarter worth about $725,000. Finally, Deutsche Bank AG lifted its stake in shares of Community West Bancshares by 187.6% in the fourth quarter. Deutsche Bank AG now owns 17,254 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 11,254 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CWBC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Community West Bancshares from $21.00 to $19.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler reduced their price target on shares of Community West Bancshares from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd.

Community West Bancshares Trading Up 2.9%

NASDAQ CWBC opened at $19.09 on Wednesday. Community West Bancshares has a one year low of $15.57 and a one year high of $22.89. The company has a 50-day simple moving average of $17.82 and a 200-day simple moving average of $18.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $363.86 million, a PE ratio of 29.37 and a beta of 0.75.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Community West Bancshares had a net margin of 6.56% and a return on equity of 8.06%. The business had revenue of $34.79 million during the quarter, compared to analyst estimates of $35.05 million. On average, equities analysts forecast that Community West Bancshares will post 2.15 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Friday, May 2nd. Community West Bancshares’s dividend payout ratio (DPR) is presently 73.85%.

Insider Activity

In other news, Director Robert Bartlein purchased 2,001 shares of the stock in a transaction dated Monday, April 28th. The stock was acquired at an average price of $17.19 per share, for a total transaction of $34,397.19. Following the completion of the transaction, the director now owns 440,877 shares of the company’s stock, valued at approximately $7,578,675.63. The trade was a 0.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders acquired 4,368 shares of company stock valued at $74,935. Company insiders own 10.57% of the company’s stock.

Community West Bancshares Profile

Community West Bancshares operates as the bank holding company for Community West Bank, N.A. that provides various financial products and services in California. The company offers deposit products, such as checking accounts, savings accounts, money market accounts, and fixed rate and fixed maturity certificates of deposits; and cash management products.