Deutsche Bank AG Boosts Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Deutsche Bank AG increased its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 58.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,727 shares of the financial services provider's stock after purchasing an additional 8,342 shares during the quarter. Deutsche Bank AG owned 0.09% of Westamerica Bancorporation worth $1,192,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WABC. Sterling Capital Management LLC boosted its holdings in Westamerica Bancorporation by 815.6% during 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 stake in shares of Westamerica Bancorporation during the 4th quarter worth about $65,000. KBC Group NV grew its position in shares of Westamerica Bancorporation by 71.4% during the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 822 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $201,000. Finally, Gallacher Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $205,000. Hedge funds and other institutional investors own 81.89% of the company's stock.

Insider Activity

In related news, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Westamerica Bancorporation Trading Down 0.7%

Shares of WABC traded down $0.35 during midday trading on Friday, reaching $48.12. The company had a trading volume of 15,087 shares, compared to its average volume of 136,120. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year 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 50 day simple moving average of $48.16 and a 200-day simple moving average of $51.13. The stock has a market cap of $1.26 billion, a PE ratio of 9.25 and a beta of 0.64.

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

Westamerica Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were given a dividend of $0.46 per share. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 36.87%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler lowered 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. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

Westamerica Bancorporation Company 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.