Pinnacle Holdings LLC Takes Position in Community West Bancshares $CWBC

Pinnacle Holdings LLC purchased a new position in shares of Community West Bancshares (NASDAQ:CWBC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,906 shares of the financial services provider’s stock, valued at approximately $588,000. Pinnacle Holdings LLC owned about 0.08% of Community West Bancshares at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp acquired a new position in Community West Bancshares in the first quarter valued at approximately $38,000. Russell Investments Group Ltd. increased its stake in Community West Bancshares by 623.7% during the third quarter. Russell Investments Group Ltd. now owns 1,983 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,709 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Community West Bancshares during the second quarter worth $46,000. Tower Research Capital LLC TRC raised its position in Community West Bancshares by 75.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,237 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,393 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Community West Bancshares by 2,945.9% in the fourth quarter. Farther Finance Advisors LLC now owns 3,381 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,270 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Community West Bancshares Price Performance

Community West Bancshares stock opened at $25.92 on Monday. Community West Bancshares has a fifty-two week low of $19.78 and a fifty-two week high of $28.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50 day moving average price of $26.16 and a 200 day moving average price of $24.62. The company has a market capitalization of $703.21 million, a PE ratio of 14.01 and a beta of 0.80.

Community West Bancshares (NASDAQ:CWBC) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $54.30 million for the quarter, compared to analyst estimates of $55.65 million. Research analysts expect that Community West Bancshares will post 2.38 earnings per share for the current year.

Community West Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 7th. Community West Bancshares’s payout ratio is currently 25.95%.

Insider Activity

In other news, Director Jagroop Gill bought 4,770 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $24.88 per share, with a total value of $118,677.60. Following the purchase, the director owned 588,067 shares in the company, valued at approximately $14,631,106.96. The trade was a 0.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 5,285 shares of company stock valued at $130,770. 9.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CWBC has been the topic of several recent analyst reports. Piper Sandler upped their price target on Community West Bancshares from $30.00 to $30.50 and gave the company an “overweight” rating in a research note on Monday, April 27th. 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 upgraded shares of Community West Bancshares from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.17.

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.