Jacobs Levy Equity Management Inc. Takes $2.72 Million Position in Westamerica Bancorporation $WABC

Key Points

• Jacobs Levy Equity Management Inc. has invested approximately $2.72 million in Westamerica Bancorporation, acquiring 53,708 shares.
• Analysts have recently upgraded Westamerica Bancorporation's rating from "sell" to "hold," while the company has a consensus target price of $52.00.
• Shares of Westamerica Bancorporation are currently valued around $48.88, with a reported 12-month high of $59.97 and low of $42.00.

Jacobs Levy Equity Management Inc. acquired a new stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,708 shares of the financial services provider's stock, valued at approximately $2,719,000. Jacobs Levy Equity Management Inc. owned about 0.21% of Westamerica Bancorporation as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in WABC. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 5,356 shares during the period. GAMMA Investing LLC boosted its position in Westamerica Bancorporation by 4,946.6% during the first quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock worth $5,534,000 after purchasing an additional 107,144 shares during the period. Two Sigma Advisers LP lifted its position in Westamerica Bancorporation by 15.1% during the fourth quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider's stock valued at $3,232,000 after purchasing an additional 8,100 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Westamerica Bancorporation by 58.0% in the fourth quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock worth $1,192,000 after buying an additional 8,342 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at $240,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on WABC. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Keefe, Bruyette & Woods dropped their target price on 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. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $52.00.

Westamerica Bancorporation Trading Down 2.1%

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 136,518. The company's 50 day moving average is $49.50 and its two-hundred day moving average is $48.98. The company has a market capitalization of $1.24 billion, a P/E ratio of 10.17 and a beta of 0.65. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. The company had revenue of $64.88 million during the quarter, compared to the consensus estimate 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 anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

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

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.