Total Wealth Planning & Management Inc. acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,039 shares of the financial services provider's stock, valued at approximately $684,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invenomic Capital Management LP purchased a new position in Westamerica Bancorporation in the 4th quarter worth $5,437,000. Raymond James Financial Inc. acquired a new stake in Westamerica Bancorporation during the 4th quarter worth about $3,647,000. Norges Bank acquired a new stake in Westamerica Bancorporation during the 4th quarter worth about $3,564,000. JPMorgan Chase & Co. grew its position in Westamerica Bancorporation by 74.7% during the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock worth $7,467,000 after purchasing an additional 60,871 shares during the period. Finally, Northern Trust Corp grew its position in Westamerica Bancorporation by 17.7% during the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock worth $20,669,000 after purchasing an additional 59,325 shares during the period. Hedge funds and other institutional investors own 81.89% of the company's stock.
Westamerica Bancorporation Price Performance
Shares of NASDAQ:WABC traded down $0.33 during trading on Friday, reaching $48.13. 132,204 shares of the company's stock traded hands, compared to its average volume of 136,784. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.26 billion, a PE ratio of 9.26 and a beta of 0.64. The company has a 50-day simple moving average of $48.10 and a 200-day simple moving average of $51.07.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted 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. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The company had revenue of $66.71 million for the quarter, compared to analysts' expectations of $66.47 million. As a group, analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.
Westamerica Bancorporation Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.82%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation's payout ratio is presently 36.87%.
Insider Buying and Selling
In related news, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the sale, the senior vice president now directly owns 11,591 shares in the company, valued at approximately $562,974.87. The trade was a 16.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation 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. 5.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler cut their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st.
View Our Latest Stock Report on WABC
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.
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