Pinnacle Holdings LLC Purchases Shares of 21,906 Community West Bancshares $CWBC

Pinnacle Holdings LLC purchased a new position in Community West Bancshares (NASDAQ:CWBC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,906 shares of the financial services provider’s stock, valued at approximately $588,000.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Community West Bancshares during the second quarter worth $64,110,000. Dimensional Fund Advisors LP boosted its holdings in Community West Bancshares by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 840,454 shares of the financial services provider’s stock valued at $19,582,000 after purchasing an additional 38,044 shares during the period. Systematic Financial Management LP grew its stake in Community West Bancshares by 34.1% during the 4th quarter. Systematic Financial Management LP now owns 411,859 shares of the financial services provider’s stock worth $9,267,000 after purchasing an additional 104,779 shares in the last quarter. State Street Corp grew its stake in Community West Bancshares by 5.1% during the 4th quarter. State Street Corp now owns 334,322 shares of the financial services provider’s stock worth $7,522,000 after purchasing an additional 16,340 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Community West Bancshares by 85.5% during the 4th quarter. Renaissance Technologies LLC now owns 167,008 shares of the financial services provider’s stock worth $3,758,000 after purchasing an additional 77,000 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CWBC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. DA Davidson reissued a “buy” rating and set a $29.00 price objective on shares of Community West Bancshares in a research report on Tuesday, April 28th. Wall Street Zen raised Community West Bancshares from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Piper Sandler upped their target price on shares of Community West Bancshares from $30.00 to $30.50 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.17.

Insider Transactions at Community West Bancshares

In other Community West Bancshares news, Director Jagroop Gill acquired 4,770 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $24.88 per share, with a total value of $118,677.60. Following the transaction, the director owned 588,067 shares in the company, valued at $14,631,106.96. The trade was a 0.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 5,285 shares of company stock worth $130,770. 9.03% of the stock is owned by insiders.

Community West Bancshares Price Performance

Community West Bancshares stock opened at $25.92 on Monday. The stock has a market cap of $703.21 million, a P/E ratio of 14.01 and a beta of 0.80. The company has a fifty day simple moving average of $26.16 and a 200-day simple moving average of $24.62. Community West Bancshares has a 12-month low of $19.78 and a 12-month high of $28.17. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.12.

Community West Bancshares (NASDAQ:CWBC) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.15. The firm had revenue of $54.30 million during the quarter, compared to the consensus estimate of $55.65 million. Community West Bancshares had a net margin of 16.86% and a return on equity of 10.12%. Equities analysts expect that Community West Bancshares will post 2.38 EPS for the current fiscal year.

Community West Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a dividend of $0.12 per share. 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 payout ratio is 25.95%.

Community West Bancshares Profile

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.