Renaissance Technologies LLC Takes $1.15 Million Position in Community West Bancshares (NASDAQ:CWBC)

Renaissance Technologies LLC acquired a new stake in Community West Bancshares (NASDAQ:CWBC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 62,345 shares of the financial services provider’s stock, valued at approximately $1,153,000. Renaissance Technologies LLC owned about 0.33% of Community West Bancshares as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bfsg LLC acquired a new stake in shares of Community West Bancshares in the second quarter valued at approximately $82,000. Acadian Asset Management LLC bought a new position in shares of Community West Bancshares in the second quarter valued at $106,000. Private Wealth Advisors LLC bought a new position in shares of Community West Bancshares in the second quarter valued at $267,000. Black Maple Capital Management LP grew its stake in shares of Community West Bancshares by 8.8% in the fourth quarter. Black Maple Capital Management LP now owns 17,475 shares of the financial services provider’s stock valued at $304,000 after buying an additional 1,417 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Community West Bancshares in the second quarter valued at $405,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Community West Bancshares

In related news, EVP Patrick A. Luis sold 1,650 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.37, for a total value of $31,960.50. Following the completion of the sale, the executive vice president now directly owns 27,586 shares of the company’s stock, valued at approximately $534,340.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.15% of the stock is owned by insiders.

Community West Bancshares Stock Performance

NASDAQ:CWBC opened at $18.01 on Friday. The stock has a market cap of $339.85 million, a P/E ratio of 9.53 and a beta of 0.86. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $19.60 and its 200-day moving average is $18.41. Community West Bancshares has a 1-year low of $13.74 and a 1-year high of $24.47.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate 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 business had revenue of $30.46 million for the quarter, compared to analysts’ expectations of $37.14 million. Equities research analysts anticipate that Community West Bancshares will post 1.42 earnings per share for the current year.

Community West Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.12 per share. 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 payout ratio is 25.40%.

Wall Street Analyst Weigh In

A number of research firms have commented on CWBC. StockNews.com cut shares of Community West Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, July 25th. Piper Sandler lifted their price objective on shares of 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 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.33.

About Community West Bancshares

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.