KLP Kapitalforvaltning AS Boosts Holdings in Westamerica Bancorporation (NASDAQ:WABC)

KLP Kapitalforvaltning AS raised its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 103.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,600 shares of the financial services provider's stock after purchasing an additional 5,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Westamerica Bancorporation were worth $537,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 734 shares during the last quarter. Golden State Wealth Management LLC raised its stake in Westamerica Bancorporation by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock valued at $126,000 after buying an additional 1,245 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Westamerica Bancorporation during the fourth quarter worth about $201,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Westamerica Bancorporation during the fourth quarter worth about $213,000. Finally, Allworth Financial LP increased its holdings in shares of Westamerica Bancorporation by 13.0% during the first quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after acquiring an additional 510 shares in the last quarter. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Stock Performance

WABC stock traded down $0.58 during trading on Friday, hitting $47.32. 179,314 shares of the company traded hands, compared to its average volume of 115,557. The stock's 50-day simple moving average is $48.92 and its 200 day simple moving average is $49.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.30. The company has a market cap of $1.24 billion, a PE ratio of 9.90 and a beta of 0.63. 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 posted its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The firm had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. On average, equities analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, August 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.9%. Westamerica Bancorporation's dividend payout ratio (DPR) is 38.49%.

Analyst Ratings Changes

A number of research firms have issued reports on WABC. Keefe, Bruyette & Woods decreased their price target on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a report on Monday, July 21st. Piper Sandler reduced their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, June 27th.

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.