Westamerica Bancorporation (NASDAQ:WABC) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 875,300 shares of the financial services provider's stock after buying an additional 9,928 shares during the quarter. Dimensional Fund Advisors LP owned 3.28% of Westamerica Bancorporation worth $45,919,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WABC. Sterling Capital Management LLC lifted its holdings in Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock worth $43,000 after buying an additional 734 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Westamerica Bancorporation in the fourth quarter valued at $65,000. KBC Group NV grew its stake in Westamerica Bancorporation by 71.4% during the 4th 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Westamerica Bancorporation by 14.1% during the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after purchasing an additional 268 shares during the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in Westamerica Bancorporation during the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Price Performance

WABC traded down $0.32 on Friday, hitting $49.64. 20,321 shares of the company were exchanged, compared to its average volume of 130,164. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The firm has a market capitalization of $1.33 billion, a P/E ratio of 9.55 and a beta of 0.64. The business's fifty day moving average is $48.57 and its 200 day moving average is $51.53.

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

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.71%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. Westamerica Bancorporation's dividend payout ratio is presently 36.87%.

Insider Buying and Selling at Westamerica Bancorporation

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

Analysts Set New Price Targets

Several research firms have recently commented on WABC. Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their price objective 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. Finally, StockNews.com downgraded Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Monday.

About Westamerica Bancorporation

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.