Westamerica Bancorporation (NASDAQ:WABC) Position Trimmed by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 46.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,293 shares of the financial services provider's stock after selling 6,219 shares during the period. Balyasny Asset Management L.P.'s holdings in Westamerica Bancorporation were worth $383,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in shares of Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock worth $43,000 after acquiring an additional 734 shares during the period. Golden State Wealth Management LLC bought a new stake in Westamerica Bancorporation during the fourth quarter worth approximately $65,000. KBC Group NV lifted its position in Westamerica Bancorporation by 71.4% in the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after purchasing an additional 822 shares during the period. Two Sigma Securities LLC acquired a new stake in Westamerica Bancorporation in the fourth quarter worth approximately $201,000. Finally, Gallacher Capital Management LLC bought a new position in Westamerica Bancorporation during the 4th quarter valued at $205,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Insider Transactions at Westamerica Bancorporation

In related news, SVP John A. Thorson sold 2,243 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $48.57, for a total value of $108,942.51. Following the completion of the sale, the senior vice president now owns 11,591 shares in the company, valued at approximately $562,974.87. This represents a 16.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC traded down $0.54 on Thursday, reaching $48.64. 22,451 shares of the company traded hands, compared to its average volume of 135,204. The stock has a market capitalization of $1.27 billion, a PE ratio of 9.40 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The company's 50 day moving average is $48.53 and its 200-day moving average is $51.42. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. As a group, analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.78%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, May 5th. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 36.87%.

Analysts Set New Price Targets

A number of research firms have recently commented on WABC. Piper Sandler dropped their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. StockNews.com upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.