Jacobs Levy Equity Management Inc. Takes 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. purchased a new position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,708 shares of the financial services provider's stock, valued at approximately $2,719,000. Jacobs Levy Equity Management Inc. owned approximately 0.21% of Westamerica Bancorporation as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WABC. Golden State Wealth Management LLC lifted 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 during the last quarter. Allworth Financial LP lifted 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 during the last quarter. Entropy Technologies LP purchased a new stake in shares of Westamerica Bancorporation during the 1st quarter worth $232,000. US Bancorp DE lifted 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 during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter worth $240,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Westamerica Bancorporation Stock Performance

WABC traded down $0.18 on Monday, reaching $48.44. The company had a trading volume of 15,637 shares, compared to its average volume of 150,116. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The stock has a market capitalization of $1.23 billion, a PE ratio of 10.13 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. The stock has a 50-day moving average price of $49.50 and a 200-day moving average price of $48.95.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The business had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. As a group, research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WABC. Keefe, Bruyette & Woods decreased 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 research report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Westamerica Bancorporation has a consensus rating of "Hold" and a consensus 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.