Jane Street Group LLC Sells 35,350 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Jane Street Group LLC cut its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 82.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,367 shares of the financial services provider's stock after selling 35,350 shares during the quarter. Jane Street Group LLC's holdings in Westamerica Bancorporation were worth $386,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WINTON GROUP Ltd raised its position in shares of Westamerica Bancorporation by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 21,619 shares of the financial services provider's stock worth $1,134,000 after acquiring an additional 227 shares during the last quarter. Swiss National Bank increased its position in Westamerica Bancorporation by 0.8% during the 4th quarter. Swiss National Bank now owns 52,500 shares of the financial services provider's stock valued at $2,754,000 after purchasing an additional 400 shares during the period. Sterling Capital Management LLC raised its holdings in Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock worth $43,000 after purchasing an additional 734 shares during the last quarter. KBC Group NV lifted its position in shares of Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after purchasing an additional 822 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Westamerica Bancorporation by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 15,607 shares of the financial services provider's stock worth $819,000 after purchasing an additional 856 shares during the period. Institutional investors own 81.89% of the company's stock.

Insider Activity at Westamerica Bancorporation

In other news, SVP John A. Thorson sold 2,243 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $48.57, for a total value 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 $562,974.87. This represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were 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 currently owned by corporate insiders.

Westamerica Bancorporation Trading Down 1.1%

Shares of Westamerica Bancorporation stock traded down $0.53 on Wednesday, reaching $47.57. 112,945 shares of the company's stock were exchanged, compared to its average volume of 137,345. The company has a market capitalization of $1.25 billion, a P/E ratio of 9.15 and a beta of 0.65. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The firm's 50-day moving average is $47.91 and its two-hundred day moving average is $50.88.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The business had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. Sell-side analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.87%. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation's payout ratio is presently 36.87%.

Wall Street Analyst Weigh In

WABC has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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.

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.