Dark Forest Capital Management LP acquired a new stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,971 shares of the financial services provider's stock, valued at approximately $1,153,000. Dark Forest Capital Management LP owned approximately 0.08% of Westamerica Bancorporation at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of WABC. Vanguard Group Inc. lifted its holdings in Westamerica Bancorporation by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider's stock worth $183,898,000 after purchasing an additional 34,762 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Westamerica Bancorporation by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 875,300 shares of the financial services provider's stock valued at $45,919,000 after acquiring an additional 9,928 shares during the last quarter. Geode Capital Management LLC lifted its position in Westamerica Bancorporation by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 753,088 shares of the financial services provider's stock worth $39,515,000 after buying an additional 17,649 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Westamerica Bancorporation by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock valued at $7,600,000 after purchasing an additional 5,368 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Westamerica Bancorporation by 74.7% in the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock valued at $7,467,000 after acquiring an additional 60,871 shares during the last quarter. Institutional investors own 81.89% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a report on Monday, April 21st.
Get Our Latest Stock Report on Westamerica Bancorporation
Insider Buying and Selling
In other news, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total value of $34,193.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.30% of the stock is owned by insiders.
Westamerica Bancorporation Trading Up 0.0 %
NASDAQ WABC traded up $0.01 during trading on Tuesday, hitting $48.63. The company had a trading volume of 29,506 shares, compared to its average volume of 128,056. The company's fifty day moving average is $48.81 and its 200-day moving average is $51.65. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 9.35 and a beta of 0.63.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. The company had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. On average, sell-side analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.
Westamerica Bancorporation Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, May 5th. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.78%. Westamerica Bancorporation's payout ratio is currently 35.27%.
About Westamerica Bancorporation
(
Free Report)
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.
Featured Stories
Before you consider Westamerica Bancorporation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Westamerica Bancorporation wasn't on the list.
While Westamerica Bancorporation currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
