Jane Street Group LLC Trims Stock Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Jane Street Group LLC lowered its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 82.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,367 shares of the financial services provider's stock after selling 35,350 shares during the period. Jane Street Group LLC's holdings in Westamerica Bancorporation were worth $386,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC purchased a new position in Westamerica Bancorporation in the 4th quarter worth approximately $439,000. AQR Capital Management LLC grew its position in shares of Westamerica Bancorporation by 10.4% in the 4th quarter. AQR Capital Management LLC now owns 88,309 shares of the financial services provider's stock worth $4,633,000 after buying an additional 8,297 shares during the last quarter. Northern Trust Corp grew its position in shares of Westamerica Bancorporation by 17.7% in the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock worth $20,669,000 after buying an additional 59,325 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Westamerica Bancorporation in the 4th quarter worth approximately $1,154,000. Finally, Aquatic Capital Management LLC grew its position in shares of Westamerica Bancorporation by 6,513.0% in the 4th quarter. Aquatic Capital Management LLC now owns 6,613 shares of the financial services provider's stock worth $347,000 after buying an additional 6,513 shares during the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Down 1.0%

Westamerica Bancorporation stock traded down $0.50 during mid-day trading on Monday, hitting $47.55. The company had a trading volume of 112,973 shares, compared to its average volume of 163,787. The company has a market capitalization of $1.24 billion, a PE ratio of 9.14 and a beta of 0.64. 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 12 month low of $42.00 and a 12 month high of $59.97. The stock's 50 day moving average price is $48.10 and its two-hundred day moving average price is $50.98.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.07. The firm had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. As a group, sell-side analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were issued a dividend of $0.46 per share. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation's dividend payout ratio is presently 36.87%.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John A. Thorson sold 2,243 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $48.57, for a total value of $108,942.51. Following the sale, the senior vice president now owns 11,591 shares of the company's stock, valued at approximately $562,974.87. This trade represents a 16.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

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.