Community West Bancshares (NASDAQ:CWBC)’s Board Director, Kirk Stovesand, acquired, on May 30, 1,028 shares of Common Stock. He paid $6.69 per share for the first 767 shares, and $6.65 per share for the remaining 261. Following these transaction, the insider owns 34,000 shares of the company.
This is not the first insider purchase that the company has witnessed this year. Since February, Mr. Stovesand and another 5 insiders at Community West Bancshares purchased the company’s stock, for prices ranging from $6.65 per share to $7.25 per share.
Despite the insider bullishness, none of the major hedge funds that we keep track of hold long stakes in this $55 million market cap bank holding company. In addition, William Peeples, Board Director and Large Shareholder (more than 10%) has been selling the company’s stock thoroughly this year. Starting in February, the insider sold 55,642 shares for prices ranging from $6.78 per share, to $7.40 per share. He now owns about 1.26 million shares of the company.