Mendon Capital Advisors Corp Acquires Shares of 24,796 Community West Bancshares $CWBC

Mendon Capital Advisors Corp acquired a new stake in Community West Bancshares (NASDAQ:CWBC) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,796 shares of the financial services provider’s stock, valued at approximately $578,000. Mendon Capital Advisors Corp owned 0.09% of Community West Bancshares at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CWBC. Arrowstreet Capital Limited Partnership increased its holdings in shares of Community West Bancshares by 90.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 70,814 shares of the financial services provider’s stock valued at $1,650,000 after acquiring an additional 33,665 shares during the period. Sei Investments Co. boosted its stake in Community West Bancshares by 159.1% during the 1st quarter. Sei Investments Co. now owns 70,984 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 43,590 shares during the period. First Trust Advisors LP boosted its stake in Community West Bancshares by 31.6% during the 1st quarter. First Trust Advisors LP now owns 80,886 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 19,442 shares during the period. PNC Financial Services Group Inc. grew its position in Community West Bancshares by 56.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,188 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Community West Bancshares by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 840,454 shares of the financial services provider’s stock worth $19,582,000 after purchasing an additional 38,044 shares during the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Community West Bancshares Price Performance

CWBC opened at $25.00 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Community West Bancshares has a 12 month low of $18.50 and a 12 month high of $28.17. The stock has a market capitalization of $678.25 million, a P/E ratio of 13.51 and a beta of 0.80. The business has a 50 day simple moving average of $25.63 and a 200-day simple moving average of $24.29.

Community West Bancshares (NASDAQ:CWBC) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.15. The company had revenue of $48.40 million during the quarter, compared to the consensus estimate of $55.65 million. Community West Bancshares had a return on equity of 11.35% and a net margin of 16.86%. On average, equities analysts anticipate that Community West Bancshares will post 2.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Community West Bancshares Company 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.