ClariVest Asset Management LLC Invests $933,000 in Community West Bancshares (NASDAQ:CWBC)

ClariVest Asset Management LLC acquired a new position in shares of Community West Bancshares (NASDAQ:CWBC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 50,418 shares of the financial services provider’s stock, valued at approximately $933,000. ClariVest Asset Management LLC owned about 0.27% of Community West Bancshares as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Black Maple Capital Management LP lifted its stake in Community West Bancshares by 8.8% during the fourth quarter. Black Maple Capital Management LP now owns 17,475 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 1,417 shares during the last quarter. Bfsg LLC bought a new stake in Community West Bancshares in the 2nd quarter worth approximately $82,000. Acadian Asset Management LLC purchased a new stake in Community West Bancshares in the second quarter worth approximately $106,000. Private Wealth Advisors LLC purchased a new position in shares of Community West Bancshares during the second quarter worth approximately $267,000. Finally, Rhumbline Advisers purchased a new position in shares of Community West Bancshares during the second quarter worth approximately $405,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Community West Bancshares Stock Down 0.5 %

Shares of NASDAQ CWBC opened at $20.10 on Thursday. The firm’s fifty day moving average is $19.70 and its 200 day moving average is $17.84. Community West Bancshares has a 52 week low of $13.55 and a 52 week high of $24.47. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.20. The company has a market cap of $379.29 million, a price-to-earnings ratio of 10.63 and a beta of 0.87.

Community West Bancshares (NASDAQ:CWBC) last released its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.42. The firm had revenue of $30.46 million for the quarter, compared to analysts’ expectations of $37.14 million. Community West Bancshares had a net margin of 7.51% and a return on equity of 9.99%. On average, equities research analysts expect that Community West Bancshares will post 1.42 earnings per share for the current year.

Community West Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, August 2nd. Community West Bancshares’s payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Community West Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. Piper Sandler raised their price objective on Community West Bancshares from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Community West Bancshares presently has an average rating of “Hold” and an average target price of $20.33.

Insiders Place Their Bets

In other news, EVP Patrick A. Luis sold 1,650 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.37, for a total transaction of $31,960.50. Following the transaction, the executive vice president now directly owns 27,586 shares of the company’s stock, valued at $534,340.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.15% of the company’s stock.

About Community West Bancshares

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.