Dynamic Technology Lab Private Ltd Buys Shares of 17,260 Westamerica Bancorporation $WABC

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Westamerica Bancorporation, purchasing 17,260 shares valued at around $874,000.
• Westamerica Bancorporation announced a quarterly dividend of $0.46 per share, with a dividend yield of 3.7% and a payout ratio of 38.49%.
• The company's stock has a market cap of $1.26 billion and reported earnings per share of $1.12 for the latest quarter, surpassing expectations by $0.01.

Dynamic Technology Lab Private Ltd bought a new position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,260 shares of the financial services provider's stock, valued at approximately $874,000. Dynamic Technology Lab Private Ltd owned approximately 0.07% of Westamerica Bancorporation as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in shares of Westamerica Bancorporation by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock worth $126,000 after purchasing an additional 1,245 shares in the last quarter. Allworth Financial LP grew its position 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 worth $214,000 after purchasing an additional 510 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Westamerica Bancorporation during the 1st quarter worth approximately $232,000. Squarepoint Ops LLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter worth approximately $240,000. Finally, US Bancorp DE grew its position in shares of Westamerica Bancorporation by 19.9% during the 1st quarter. US Bancorp DE now owns 4,698 shares of the financial services provider's stock worth $238,000 after purchasing an additional 780 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.

Westamerica Bancorporation Price Performance

Shares of NASDAQ WABC traded down $1.04 during trading hours on Friday, hitting $48.62. 108,034 shares of the stock were exchanged, compared to its average volume of 130,754. 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 cap of $1.24 billion, a PE ratio of 10.17 and a beta of 0.65. The company's fifty day simple moving average is $49.50 and its two-hundred day simple moving average is $48.95. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly 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. The business had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. On average, sell-side analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were given a $0.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.84 dividend on an annualized basis and a yield of 3.8%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 38.49%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WABC shares. Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Keefe, Bruyette & Woods decreased their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of "Hold" and an average 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.