The Manufacturers Life Insurance Company Increases Stock Holdings in Community West Bancshares (NASDAQ:CWBC)

The Manufacturers Life Insurance Company boosted its stake in Community West Bancshares (NASDAQ:CWBC) by 198.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 365,965 shares of the financial services provider’s stock after buying an additional 243,165 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.94% of Community West Bancshares worth $6,770,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Community West Bancshares by 284.8% during the second quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider’s stock worth $11,864,000 after purchasing an additional 474,671 shares during the last quarter. Private Management Group Inc. grew its holdings in shares of Community West Bancshares by 5.3% in the second quarter. Private Management Group Inc. now owns 557,479 shares of the financial services provider’s stock valued at $10,313,000 after acquiring an additional 27,967 shares in the last quarter. American Century Companies Inc. increased its position in shares of Community West Bancshares by 24.6% during the second quarter. American Century Companies Inc. now owns 120,070 shares of the financial services provider’s stock valued at $2,221,000 after acquiring an additional 23,738 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Community West Bancshares during the second quarter worth $1,770,000. Finally, LSV Asset Management bought a new stake in Community West Bancshares during the second quarter worth $1,507,000. 33.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Community West Bancshares news, EVP Patrick A. Luis sold 1,650 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.37, for a total value of $31,960.50. Following the sale, the executive vice president now owns 27,586 shares in the company, valued at approximately $534,340.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.15% of the stock is owned by company insiders.

Community West Bancshares Price Performance

CWBC stock opened at $18.01 on Friday. The stock has a market capitalization of $339.85 million, a price-to-earnings ratio of 9.53 and a beta of 0.86. The firm’s 50-day moving average price is $19.60 and its two-hundred day moving average price is $18.41. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. Community West Bancshares has a 12-month low of $13.74 and a 12-month high of $24.47.

Community West Bancshares (NASDAQ:CWBC) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.42. Community West Bancshares had a return on equity of 9.99% and a net margin of 7.51%. The company had revenue of $30.46 million during the quarter, compared to analyst estimates of $37.14 million. As a group, equities analysts predict that Community West Bancshares will post 1.42 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Friday, August 2nd. Community West Bancshares’s dividend payout ratio is presently 25.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CWBC. StockNews.com downgraded shares of Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. Piper Sandler raised their target price on Community West Bancshares from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.33.

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.