Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 107,832 Community West Bancshares $CWBC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Community West Bancshares (NASDAQ:CWBC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 107,832 shares of the financial services provider’s stock, valued at approximately $2,896,000. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Community West Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CWBC. CWM LLC increased its stake in shares of Community West Bancshares by 17.6% in the 4th quarter. CWM LLC now owns 3,744 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 560 shares in the last quarter. Hsbc Holdings PLC boosted its position in Community West Bancshares by 3.3% during the fourth quarter. Hsbc Holdings PLC now owns 22,919 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 723 shares in the last quarter. First Trust Advisors LP boosted its position in Community West Bancshares by 7.0% during the second quarter. First Trust Advisors LP now owns 12,165 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 794 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in Community West Bancshares by 4.1% during the second quarter. Orion Porfolio Solutions LLC now owns 28,321 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings 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. 33.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Community West Bancshares

In other news, Director Jagroop Gill acquired 4,770 shares of Community West Bancshares stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost 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 $14,631,106.96. This trade represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 5,339 shares of company stock worth $132,169 in the last three months. 9.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CWBC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Community West Bancshares in a research note on Friday, July 10th. Wall Street Zen raised shares of Community West Bancshares from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Community West Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $28.17.

Community West Bancshares Trading Down 0.7%

Shares of Community West Bancshares stock opened at $25.82 on Friday. 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 has a twelve month low of $19.78 and a twelve month high of $28.17. The firm has a market capitalization of $700.50 million, a PE ratio of 13.96 and a beta of 0.80. The firm’s 50-day moving average price is $26.24 and its 200 day moving average price is $24.65.

Community West Bancshares (NASDAQ:CWBC) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.45 EPS 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 company had revenue of $54.30 million during the quarter, compared to analyst estimates of $55.65 million. On average, sell-side analysts predict that Community West Bancshares will post 2.38 EPS for the current fiscal year.

Community West Bancshares Announces Dividend

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