BlackRock Inc. Makes New $64.11 Million Investment in Community West Bancshares $CWBC

Key Points

• BlackRock acquired 2.39 million shares of Community West Bancshares worth approximately $64.1 million, giving it an 8.8% stake. Institutional investors collectively own 33.8% of the company.
• Community West Bancshares reported quarterly EPS of $0.45, beating analyst expectations of $0.30, while revenue of $54.3 million came in slightly below estimates. Analysts forecast full-year EPS of $2.38.
• The company maintains a quarterly dividend of $0.12, equivalent to $0.48 annually and a 1.9% yield. Analysts have a consensus “Moderate Buy” rating with a $28.17 price target, versus a recent share price of $25.82.

BlackRock Inc. acquired a new stake in Community West Bancshares (NASDAQ:CWBC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,386,807 shares of the financial services provider's stock, valued at approximately $64,110,000. BlackRock Inc. owned about 8.80% of Community West Bancshares at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Deutsche Bank AG bought a new stake in shares of Community West Bancshares during the 2nd quarter worth about $645,000. Bank of New York Mellon Corp bought a new position in Community West Bancshares in the 2nd quarter valued at about $2,601,000. Bank of America Corp DE raised its holdings in Community West Bancshares by 14.2% in the 1st quarter. Bank of America Corp DE now owns 43,131 shares of the financial services provider's stock valued at $1,005,000 after acquiring an additional 5,364 shares during the period. Quantinno Capital Management LP lifted its position in Community West Bancshares by 33.2% during the first quarter. Quantinno Capital Management LP now owns 26,130 shares of the financial services provider's stock worth $609,000 after acquiring an additional 6,515 shares during the last quarter. Finally, Mendon Capital Advisors Corp acquired a new stake in Community West Bancshares during the first quarter worth approximately $578,000. 33.80% of the stock is owned by institutional investors.

Community West Bancshares Stock Performance

CWBC opened at $25.82 on Monday. The stock has a market capitalization of $700.50 million, a price-to-earnings ratio of 13.96 and a beta of 0.80. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.12. Community West Bancshares has a twelve month low of $19.78 and a twelve month high of $28.17. The company has a 50-day simple moving average of $26.24 and a 200 day simple moving average of $24.65.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 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 firm had revenue of $54.30 million for the quarter, compared to analyst estimates of $55.65 million. Analysts predict that Community West Bancshares will post 2.38 EPS 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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 7th. Community West Bancshares's dividend payout ratio (DPR) is 25.95%.

Insider Buying and Selling

In other Community West Bancshares news, Director Jagroop Gill bought 4,770 shares of the business's stock in a transaction on Monday, August 10th. The stock was purchased at an average cost 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 approximately $14,631,106.96. This trade represents a 0.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 5,079 shares of company stock worth $126,733 in the last three months. 9.03% of the stock is owned by insiders.

Analysts Set New Price Targets

CWBC has been the topic of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Community West Bancshares in a research note on Friday, July 10th. Wall Street Zen upgraded Community West Bancshares from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $28.17.

About Community West Bancshares

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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