Wellington Management Group LLP Acquires 833,312 Shares of Community West Bancshares $CWBC

Wellington Management Group LLP increased its holdings in shares of Community West Bancshares (NASDAQ:CWBC) by 275.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,136,107 shares of the financial services provider’s stock after purchasing an additional 833,312 shares during the period. Wellington Management Group LLP’s holdings in Community West Bancshares were worth $30,516,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in Community West Bancshares during the second quarter valued at approximately $380,000. Bank of America Corp DE bought a new stake in Community West Bancshares during the 2nd quarter valued at $748,000. Legal & General Group Plc purchased a new position in shares of Community West Bancshares in the 2nd quarter valued at $64,000. The Manufacturers Life Insurance Company bought a new position in shares of Community West Bancshares in the 2nd quarter worth $9,091,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Community West Bancshares in the 2nd quarter worth $2,896,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jagroop Gill bought 4,770 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $24.88 per share, for a total transaction of $118,677.60. Following 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 5,374 shares of company stock valued at $133,078. 9.03% of the stock is owned by company insiders.

Community West Bancshares Trading Up 0.8%

Shares of NASDAQ:CWBC opened at $26.61 on Friday. The business’s 50-day moving average is $26.23 and its 200 day moving average is $24.71. Community West Bancshares has a 1 year low of $19.78 and a 1 year high of $28.17. The firm has a market capitalization of $721.93 million, a P/E ratio of 14.38 and a beta of 0.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89.

Community West Bancshares (NASDAQ:CWBC) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $54.30 million during the quarter, compared to the consensus estimate of $55.65 million. On average, research analysts predict that Community West Bancshares will post 2.38 earnings per share for the current fiscal year.

Community West Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 7th. Community West Bancshares’s dividend payout ratio (DPR) is presently 25.95%.

Analysts Set New Price Targets

CWBC has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. Wall Street Zen upgraded shares of Community West Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.