AlphaQuest LLC Sells 9,142 Shares of Westamerica Bancorporation $WABC

Key Points

• AlphaQuest LLC reduced its stake in Westamerica Bancorporation by 47.9%, selling 9,142 shares during the first quarter, leaving them with 9,952 shares valued at approximately $504,000.
• Several institutional investors have increased their holdings in Westamerica Bancorporation, including Envestnet Asset Management and MIRAE ASSET GLOBAL ETFS HOLDINGS, demonstrating continued interest in the company from the investment community.
• Westamerica Bancorporation recently declared a quarterly dividend of $0.46 per share, providing an annualized yield of 3.7% based on its current share price.

AlphaQuest LLC trimmed its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 47.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,952 shares of the financial services provider's stock after selling 9,142 shares during the quarter. AlphaQuest LLC's holdings in Westamerica Bancorporation were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its stake in Westamerica Bancorporation by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock valued at $126,000 after acquiring an additional 1,245 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at approximately $201,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at approximately $213,000. Allworth Financial LP lifted its stake in shares of Westamerica Bancorporation by 13.0% during the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after buying an additional 510 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Westamerica Bancorporation during the 1st quarter valued at approximately $232,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on WABC shares. Wall Street Zen cut shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $52.00.

Westamerica Bancorporation Price Performance

NASDAQ WABC traded down $0.02 on Friday, hitting $50.01. The stock had a trading volume of 262,540 shares, compared to its average volume of 143,840. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.46 and a beta of 0.63. The firm has a 50-day moving average of $49.46 and a 200-day moving average of $49.00.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The business had revenue of $64.88 million for the quarter, compared to analysts' expectations of $65.80 million. Equities analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.7%. Westamerica Bancorporation's dividend payout ratio is presently 38.49%.

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.