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

Leeward Investments LLC MA reduced its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the SEC. 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mutual of America Capital Management LLC bought a new stake in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $212,000. Raymond James Financial Inc. acquired a new position in shares of Westamerica Bancorporation during the fourth quarter valued at $3,647,000. One Capital Management LLC bought a new stake in shares of Westamerica Bancorporation during the fourth quarter valued at about $210,000. Inceptionr LLC acquired a new position in Westamerica Bancorporation during the 4th quarter valued at about $233,000. Finally, AlphaQuest LLC raised its holdings in Westamerica Bancorporation by 16.1% during the fourth quarter. AlphaQuest LLC now owns 19,094 shares of the financial services provider's stock worth $1,002,000 after purchasing an additional 2,650 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WABC. Keefe, Bruyette & Woods dropped their target price on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Piper Sandler dropped their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st.

Westamerica Bancorporation Trading Up 1.2%

Westamerica Bancorporation stock traded up $0.59 on Friday, reaching $51.37. 57,641 shares of the stock were exchanged, compared to its average volume of 138,121. The stock has a market cap of $1.34 billion, a PE ratio of 10.29 and a beta of 0.64. The firm has a fifty day moving average price of $48.67 and a two-hundred day moving average price of $49.59. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, topping 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 net margin of 44.10% and a return on equity of 14.95%. Equities analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation's payout ratio is currently 36.87%.

Insider Transactions at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation 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 transaction, the senior vice president owned 11,591 shares in the company, valued at approximately $562,974.87. This represents a 16.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

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.