Private Management Group Inc. Reduces Stock Position in Community West Bancshares $CWBC

Private Management Group Inc. cut its stake in Community West Bancshares (NASDAQ:CWBC) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,589 shares of the financial services provider’s stock after selling 44,056 shares during the quarter. Private Management Group Inc.’s holdings in Community West Bancshares were worth $13,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Community West Bancshares by 275.2% during the second quarter. Wellington Management Group LLP now owns 1,136,107 shares of the financial services provider’s stock valued at $30,516,000 after purchasing an additional 833,312 shares during the period. Empowered Funds LLC bought a new stake in Community West Bancshares in the 2nd quarter worth approximately $380,000. Bank of America Corp DE bought a new stake in Community West Bancshares in the 2nd quarter worth approximately $748,000. Legal & General Group Plc purchased a new stake in Community West Bancshares during the 2nd quarter valued at $64,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Community West Bancshares during the 2nd quarter valued at $9,091,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CWBC shares. Wall Street Zen upgraded Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Community West Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $28.17.

Community West Bancshares Price Performance

Shares of NASDAQ:CWBC opened at $25.82 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $700.50 million, a PE ratio of 13.96 and a beta of 0.80. The firm’s 50 day moving average price is $26.24 and its 200-day moving average price is $24.65. Community West Bancshares has a twelve month low of $19.78 and a twelve month high of $28.17.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating 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 10.12%. The company had revenue of $54.30 million during the quarter, compared to analyst estimates of $55.65 million. Equities research analysts expect that Community West Bancshares will post 2.38 EPS for the current year.

Community West Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 7th. Community West Bancshares’s dividend payout ratio (DPR) is currently 25.95%.

Insider Activity

In other Community West Bancshares news, 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 price of $24.88 per share, with a total value of $118,677.60. Following the transaction, the director directly owned 588,067 shares in the company, valued at approximately $14,631,106.96. The trade was a 0.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 5,339 shares of company stock worth $132,169. Insiders own 9.03% of the company’s stock.

Community West Bancshares Profile

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.