GAMMA Investing LLC Has $5.53 Million Stock Holdings in Westamerica Bancorporation (NASDAQ:WABC)

GAMMA Investing LLC raised its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4,946.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,310 shares of the financial services provider's stock after buying an additional 107,144 shares during the quarter. GAMMA Investing LLC owned 0.41% of Westamerica Bancorporation worth $5,534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of WABC. Sterling Capital Management LLC increased its holdings in Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after buying an additional 734 shares during the period. Golden State Wealth Management LLC bought a new stake in Westamerica Bancorporation in the 4th quarter valued at $65,000. Two Sigma Securities LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at $201,000. Gallacher Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at $205,000. Finally, One Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at $210,000. Institutional investors own 81.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WABC. Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction dated 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 sale, the senior vice president now directly owns 11,591 shares of the company's stock, valued at approximately $562,974.87. The trade was a 16.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $48.16, for a total value of $34,193.60. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Westamerica Bancorporation Price Performance

NASDAQ WABC traded down $1.18 on Friday, hitting $46.98. 110,263 shares of the company were exchanged, compared to its average volume of 138,132. The firm has a 50 day moving average of $47.95 and a two-hundred day moving average of $50.53. The company has a market cap of $1.23 billion, a P/E ratio of 9.03 and a beta of 0.65. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. 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 issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. The business had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. On average, equities analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.46 per share. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.84 annualized dividend and a yield of 3.92%. Westamerica Bancorporation's dividend payout ratio is 36.87%.

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.