Leeward Investments LLC MA Sells 5,909 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Leeward Investments LLC MA lowered its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,442 shares of the financial services provider's stock after selling 5,909 shares during the quarter. Leeward Investments LLC MA owned approximately 0.57% of Westamerica Bancorporation worth $7,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WABC. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 107,144 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $5,437,000. Raymond James Financial Inc. bought a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $3,647,000. Norges Bank bought a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $3,564,000. Finally, JPMorgan Chase & Co. raised its position in shares of Westamerica Bancorporation by 74.7% during the fourth quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock worth $7,467,000 after acquiring an additional 60,871 shares during the last quarter. Institutional investors own 81.89% of the company's stock.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction dated 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 transaction, the senior vice president directly owned 11,591 shares of the company's stock, valued at approximately $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction dated 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 owned by insiders.

Westamerica Bancorporation Stock Up 1.2%

Shares of Westamerica Bancorporation stock traded up $0.59 during trading on Friday, reaching $51.37. 57,641 shares of the company were exchanged, compared to its average volume of 138,420. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97. The business has a 50-day moving average price of $48.67 and a 200-day moving average price of $49.57. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 10.29 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.95% and a net margin of 44.10%. The business had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. On average, equities research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, May 5th. This is a boost 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 3.58%. Westamerica Bancorporation's payout ratio is 36.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WABC shares. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods dropped their target price on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler decreased their price objective 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.

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.