Wellington Management Group LLP Buys 62,854 Shares of Community West Bancshares $CWBC

Key Points

• Wellington Management Group LLP has increased its stake in Community West Bancshares (CWBC) by 70.4%, owning approximately 0.80% of the company, valuing their investment at $2.81 million.
• Community West Bancshares has received recent upgrades from analysts, with Zacks Research shifting its rating from "strong sell" to "hold" and DA Davidson increasing its price target from $20.00 to $24.00, reflecting positive sentiment.
• The company has declared a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 2.3%, with a payout ratio of 34.53%.

Wellington Management Group LLP raised its position in shares of Community West Bancshares (NASDAQ:CWBC - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,187 shares of the financial services provider's stock after buying an additional 62,854 shares during the period. Wellington Management Group LLP owned about 0.80% of Community West Bancshares worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in Community West Bancshares by 33.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,096 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 529 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Community West Bancshares by 28.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,565 shares of the financial services provider's stock worth $47,000 after purchasing an additional 565 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Community West Bancshares by 29.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,600 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 1,041 shares during the last quarter. Victory Capital Management Inc. raised its holdings in 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 valued at $1,035,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Community West Bancshares by 15.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,175 shares of the financial services provider's stock worth $313,000 after buying an additional 2,164 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

Community West Bancshares Stock Performance

Shares of CWBC traded up $0.05 during trading hours on Friday, hitting $21.22. The company had a trading volume of 5,470 shares, compared to its average volume of 54,793. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $20.34 and a 200-day moving average of $18.75. Community West Bancshares has a 12 month low of $15.57 and a 12 month high of $22.89. The firm has a market cap of $405.84 million, a price-to-earnings ratio of 15.26 and a beta of 0.90.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.08). Community West Bancshares had a net margin of 13.88% and a return on equity of 7.91%. The company had revenue of $35.67 million during the quarter, compared to analyst estimates of $35.90 million. Equities analysts anticipate that Community West Bancshares will post 2.15 EPS for the current fiscal year.

Community West Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 1st. Community West Bancshares's payout ratio is presently 34.53%.

Analyst Ratings Changes

CWBC has been the topic of a number of recent research reports. Zacks Research raised shares of Community West Bancshares from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. DA Davidson raised their price target on shares of Community West Bancshares from $20.00 to $24.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Community West Bancshares from $19.00 to $22.00 and gave the stock a "market perform" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average 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.