Jefferies Financial Group Inc. Acquires Shares of 12,250 Westamerica Bancorporation (NASDAQ:WABC)

Jefferies Financial Group Inc. bought a new position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,250 shares of the financial services provider's stock, valued at approximately $643,000.

Several other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in Westamerica Bancorporation by 815.6% in the fourth 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 shares of Westamerica Bancorporation during the 4th quarter worth approximately $65,000. KBC Group NV raised its position in shares of Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after acquiring an additional 822 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Westamerica Bancorporation in the 4th quarter worth approximately $201,000. Finally, Gallacher Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter valued at approximately $205,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ:WABC traded up $0.55 during midday trading on Tuesday, reaching $48.10. 158,514 shares of the company's stock traded hands, compared to its average volume of 137,236. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 9.25 and a beta of 0.64. The stock has a 50 day moving average of $47.97 and a 200 day moving average of $50.90.

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

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 3.83%. Westamerica Bancorporation's payout ratio is currently 36.87%.

Insider Buying and Selling at Westamerica Bancorporation

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler decreased their price target 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. Finally, Keefe, Bruyette & Woods lowered 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 research report on Monday, April 21st.

Westamerica Bancorporation 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.