Algert Global LLC Lowers Holdings in Community West Bancshares $CWBC

Key Points

• Algert Global reduced its Community West Bancshares stake by 43.1% in the second quarter, selling 42,114 shares and retaining 55,552 shares worth approximately $1.49 million.
• Institutional ownership remains significant at 33.8%, while insiders own 9.03%; Director Jagroop Gill also purchased 4,770 shares for about $118,678.
• Analysts maintain a “Moderate Buy” consensus with a $28.17 target price. CWBC recently reported adjusted earnings of $0.45 per share, above the $0.30 estimate, and pays a quarterly dividend of $0.12.

Algert Global LLC trimmed its stake in shares of Community West Bancshares (NASDAQ:CWBC - Free Report) by 43.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,552 shares of the financial services provider's stock after selling 42,114 shares during the period. Algert Global LLC owned about 0.20% of Community West Bancshares worth $1,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Community West Bancshares during the 2nd quarter worth approximately $64,110,000. Dimensional Fund Advisors LP boosted its holdings in Community West Bancshares by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 840,454 shares of the financial services provider's stock worth $19,582,000 after buying an additional 38,044 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Community West Bancshares by 34.1% during the fourth quarter. Systematic Financial Management LP now owns 411,859 shares of the financial services provider's stock worth $9,267,000 after buying an additional 104,779 shares in the last quarter. State Street Corp grew 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 valued at $7,522,000 after buying an additional 16,340 shares during the period. Finally, Renaissance Technologies LLC grew its position 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 buying an additional 77,000 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Community West Bancshares news, Director Jagroop Gill bought 4,770 shares of the firm's stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $24.88 per share, with a total value of $118,677.60. Following the purchase, the director directly owned 588,067 shares of the company's stock, valued at $14,631,106.96. This trade represents a 0.82% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 5,339 shares of company stock valued at $132,169. Company insiders own 9.03% of the company's stock.

Analyst Ratings Changes

CWBC has been the topic of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Community West Bancshares in a research report on Friday, July 10th. Wall Street Zen upgraded Community West Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.17.

Community West Bancshares Stock Down 0.7%

NASDAQ CWBC opened at $25.82 on Friday. The business has a fifty day moving average price of $26.24 and a 200 day moving average price of $24.65. Community West Bancshares has a one year low of $19.78 and a one year high of $28.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $700.50 million, a P/E ratio of 13.96 and a beta of 0.80.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.15. The company had revenue of $54.30 million for the quarter, compared to analysts' expectations of $55.65 million. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%. Research analysts anticipate that Community West Bancshares will post 2.38 EPS for the current fiscal year.

Community West Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.12 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Community West Bancshares's dividend payout ratio is presently 25.95%.

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.

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