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

A number of other large investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Westamerica Bancorporation by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider's stock worth $773,000 after acquiring an additional 642 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Westamerica Bancorporation in the 1st quarter worth approximately $2,719,000. Royal Bank of Canada raised its position in Westamerica Bancorporation by 6.8% in the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider's stock worth $938,000 after purchasing an additional 1,183 shares during the last quarter. Raymond James Financial Inc. raised its position in Westamerica Bancorporation by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 72,816 shares of the financial services provider's stock worth $3,687,000 after purchasing an additional 3,306 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Westamerica Bancorporation by 4.9% in the 1st quarter. American Century Companies Inc. now owns 1,847,338 shares of the financial services provider's stock worth $93,531,000 after purchasing an additional 86,850 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WABC. Keefe, Bruyette & Woods dropped their price objective on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a research report on Monday, July 21st. Wall Street Zen raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westamerica Bancorporation presently has an average rating of "Hold" and a consensus price target of $52.00.

Westamerica Bancorporation Price Performance

NASDAQ:WABC traded down $1.04 during mid-day trading on Friday, reaching $48.62. The stock had a trading volume of 108,034 shares, compared to its average volume of 136,518. The stock has a 50-day simple moving average of $49.50 and a two-hundred day simple moving average of $48.98. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.17 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.29. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. The company 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, equities analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were issued a $0.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.8%. Westamerica Bancorporation's 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.