Kirk Stovesand, a director at Community West Bancshares (NASDAQ:CWBC), recently increased his stake in the company. According to a recent SEC filing, Stovesand purchased 390 shares of the company's common stock on November 22, 2024. The shares were acquired at an average price of $21.418 each, totaling approximately $8,353.
This transaction was part of a dividend reinvestment plan, as noted in the filing. Following this acquisition, Stovesand now owns a total of 72,095 shares directly. Community West Bancshares, headquartered in Fresno, California, operates as a state commercial bank.
InvestingPro Insights
Kirk Stovesand's recent purchase of Community West Bancshares (NASDAQ:CWBC) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown strong performance, with a significant 20.82% return over the last month and an impressive 32.09% return over the past six months. This upward trend is further supported by the fact that CWBC is trading at 91.13% of its 52-week high, suggesting investor confidence in the company's prospects.
InvestingPro Tips reveal that CWBC has maintained dividend payments for 13 consecutive years, which may have influenced Stovesand's decision to participate in the dividend reinvestment plan. This consistent dividend history is particularly noteworthy given the company's current dividend yield of 2.15%.
However, investors should be aware that CWBC is trading at a high earnings multiple, with a P/E ratio of 51.26. This valuation metric suggests that the stock may be priced at a premium compared to its earnings. Additionally, the company's revenue for the last twelve months stands at $95.15 million, with a revenue growth of 6.84% over the same period.
For those interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for CWBC, providing a deeper understanding of the company's financial health and market position. These insights can be valuable for investors considering following Stovesand's lead in increasing their stake in Community West Bancshares.
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