Leeward Investments LLC MA Cuts Stake in Westamerica Bancorporation (NASDAQ:WABC)

Leeward Investments LLC MA decreased its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,442 shares of the financial services provider's stock after selling 5,909 shares during the period. Leeward Investments LLC MA owned 0.57% of Westamerica Bancorporation worth $7,718,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in shares of Westamerica Bancorporation by 815.6% in the fourth 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 period. Golden State Wealth Management LLC raised its position in shares of 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 purchasing an additional 1,245 shares during the period. Two Sigma Securities LLC bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $201,000. Gallacher Capital Management LLC bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $205,000. Finally, One Capital Management LLC bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $210,000. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Stock Up 1.0%

NASDAQ:WABC traded up $0.49 during mid-day trading on Tuesday, hitting $51.18. 106,508 shares of the stock traded hands, compared to its average volume of 138,384. The business's 50-day moving average price is $48.76 and its 200 day moving average price is $49.56. The company has a market cap of $1.34 billion, a PE ratio of 10.26 and a beta of 0.64. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.09 by $0.07. The company had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. Westamerica Bancorporation had a net margin of 44.10% and a return on equity of 14.95%. Analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, May 5th. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's payout ratio is currently 36.87%.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 11,591 shares of the company's stock, valued at $562,974.87. The trade was a 16.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of 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. Piper Sandler reduced their price objective 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. Finally, Wall Street Zen raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Friday, June 27th.

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.