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

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

Other hedge funds have also modified their holdings of the company. Bridgewealth Advisory Group LLC purchased a new position in shares of Community West Bancshares in the second quarter valued at $226,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Community West Bancshares during the 2nd quarter valued at about $268,000. Renaissance Technologies LLC purchased a new stake in shares of Community West Bancshares during the 2nd quarter valued at about $1,153,000. Dimensional Fund Advisors LP lifted its holdings in shares of Community West Bancshares by 284.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 641,347 shares of the financial services provider's stock valued at $11,864,000 after acquiring an additional 474,671 shares during the last quarter. Finally, American Century Companies Inc. raised its position in 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 purchasing an additional 23,738 shares during the period. 33.80% of the stock is owned by hedge funds and other institutional investors.

Community West Bancshares Trading Down 0.2 %

Shares of CWBC stock traded down $0.03 on Friday, reaching $18.01. 25,213 shares of the company's stock were exchanged, compared to its average volume of 50,681. The company's fifty day simple moving average is $19.60 and its 200 day simple moving average is $18.43. Community West Bancshares has a 52 week low of $13.74 and a 52 week high of $24.47. 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 has a market capitalization of $339.85 million, a PE ratio of 9.53 and a beta of 0.86.

Community West Bancshares (NASDAQ:CWBC - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.41 earnings per share 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 firm had revenue of $30.46 million during the quarter, compared to the consensus estimate of $37.14 million. As a group, analysts forecast that Community West Bancshares will post 1.42 EPS for the current year.

Community West Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.48 annualized dividend and a yield of 2.67%. Community West Bancshares's dividend payout ratio (DPR) is 25.40%.

Insider Activity at Community West Bancshares

In other Community West Bancshares news, EVP Patrick A. Luis sold 1,650 shares of Community West Bancshares stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.37, for a total transaction of $31,960.50. Following the completion of the sale, the executive vice president now owns 27,586 shares of the company's stock, valued at approximately $534,340.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler increased their price target on Community West Bancshares from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. StockNews.com downgraded shares of Community West Bancshares from a "hold" rating to a "sell" rating in a research note on Thursday, July 25th. 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 MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.