AlphaQuest LLC Has $504,000 Stake in 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 cut its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 47.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Westamerica Bancorporation by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider's stock valued at $7,606,000 after acquiring an additional 5,356 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Westamerica Bancorporation by 4,946.6% during the 1st quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock worth $5,534,000 after acquiring an additional 107,144 shares during the period. Two Sigma Advisers LP increased its position in Westamerica Bancorporation by 15.1% during the 4th quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider's stock worth $3,232,000 after purchasing an additional 8,100 shares in the last quarter. Deutsche Bank AG increased its position in Westamerica Bancorporation by 58.0% during the 4th quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock worth $1,192,000 after purchasing an additional 8,342 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $240,000. 81.89% of the stock is owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Down 0.0%

Shares of NASDAQ WABC traded down $0.02 during trading hours on Monday, hitting $50.01. The stock had a trading volume of 262,540 shares, compared to its average volume of 148,001. The firm's 50-day moving average price is $49.51 and its two-hundred day moving average price is $48.99. 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 P/E ratio of 10.46 and a beta of 0.65.

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 for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%.The firm had revenue of $64.88 million during the quarter, compared to analyst estimates of $65.80 million. Analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WABC shares. Wall Street Zen downgraded shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods reduced their price objective on 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, Based on data from MarketBeat, Westamerica Bancorporation has an average rating of "Hold" and a consensus price target of $52.00.

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.