Elevation Point Wealth Partners LLC Purchases 10,961 Shares of Community West Bancshares $CWBC

Elevation Point Wealth Partners LLC raised its position in shares of Community West Bancshares (NASDAQ:CWBC) by 75.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,458 shares of the financial services provider’s stock after acquiring an additional 10,961 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Community West Bancshares were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWBC. Systematic Financial Management LP grew its holdings in shares of Community West Bancshares by 0.8% in the first quarter. Systematic Financial Management LP now owns 302,435 shares of the financial services provider’s stock valued at $5,589,000 after purchasing an additional 2,400 shares in the last quarter. Cutler Capital Management LLC bought a new position in Community West Bancshares during the first quarter valued at $2,995,000. Wellington Management Group LLP grew its stake in shares of Community West Bancshares by 70.4% in the 1st quarter. Wellington Management Group LLP now owns 152,187 shares of the financial services provider’s stock worth $2,812,000 after buying an additional 62,854 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Community West Bancshares by 2.6% in the 1st quarter. Victory Capital Management Inc. now owns 56,000 shares of the financial services provider’s stock worth $1,035,000 after buying an additional 1,400 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Community West Bancshares by 7.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,747 shares of the financial services provider’s stock valued at $971,000 after buying an additional 3,633 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors.

Community West Bancshares Price Performance

CWBC stock opened at $22.66 on Friday. The stock has a market cap of $434.02 million, a PE ratio of 12.73 and a beta of 0.93. Community West Bancshares has a 12 month low of $15.57 and a 12 month high of $23.22. The company has a 50-day moving average price of $21.25 and a 200 day moving average price of $20.24. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

Community West Bancshares (NASDAQ:CWBC) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Community West Bancshares had a net margin of 17.49% and a return on equity of 9.26%. The business had revenue of $37.91 million during the quarter, compared to the consensus estimate of $36.75 million. Equities research analysts anticipate that Community West Bancshares will post 2.15 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.12 per share. The ex-dividend date was Friday, October 31st. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Community West Bancshares’s payout ratio is presently 26.97%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Zacks Research raised shares of Community West Bancshares from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Community West Bancshares in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Community West Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

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.