Bank of New York Mellon Corp Acquires Shares of 96,820 Community West Bancshares $CWBC

Key Points

• Bank of New York Mellon acquired 96,820 shares of Community West Bancshares, valued at approximately $2.6 million, giving it a 0.36% stake. Institutional investors collectively own 33.80% of the company.
• Analysts maintain a “Moderate Buy” consensus, with three Buy ratings and two Holds and an average price target of $28.17. The company also beat quarterly earnings estimates, reporting $0.45 per share versus the expected $0.30.
• Community West Bancshares recently paid a quarterly dividend of $0.12 per share, equal to an annualized $0.48 and a 1.8% yield. Director Jagroop Gill also purchased 4,770 shares, while insiders own 9.03% of the stock.

Bank of New York Mellon Corp acquired a new stake in shares of Community West Bancshares (NASDAQ:CWBC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,820 shares of the financial services provider's stock, valued at approximately $2,601,000. Bank of New York Mellon Corp owned about 0.36% of Community West Bancshares at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Community West Bancshares in the 1st quarter worth approximately $38,000. Russell Investments Group Ltd. lifted its stake in Community West Bancshares by 623.7% in the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider's stock worth $41,000 after acquiring an additional 1,709 shares during the period. Raymond James Financial Inc. bought a new stake in Community West Bancshares in the second quarter valued at $46,000. Tower Research Capital LLC TRC increased its position in Community West Bancshares by 75.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,237 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 1,393 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Community West Bancshares by 56.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,188 shares of the financial services provider's stock worth $98,000 after purchasing an additional 1,508 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Community West Bancshares from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Community West Bancshares in a research note 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's stock. According to data from MarketBeat, Community West Bancshares currently has an average rating of "Moderate Buy" and an average price target of $28.17.

Insider Transactions at Community West Bancshares

In other Community West Bancshares news, Director Jagroop Gill purchased 4,770 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $24.88 per share, for a total transaction of $118,677.60. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 5,374 shares of company stock valued at $133,078. Corporate insiders own 9.03% of the company's stock.

Community West Bancshares Stock Performance

Shares of CWBC opened at $26.61 on Tuesday. 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 business's 50 day moving average price is $26.23 and its 200-day moving average price is $24.73. Community West Bancshares has a 52 week low of $19.78 and a 52 week high of $28.17. The stock has a market cap of $721.93 million, a P/E ratio of 14.38 and a beta of 0.81.

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

Community West Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, August 7th. Community West Bancshares's 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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