MQS Management LLC Makes New $294,000 Investment in Westamerica Bancorporation (NASDAQ:WABC)

MQS Management LLC bought a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,810 shares of the financial services provider's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WABC. Sterling Capital Management LLC grew its stake 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 worth $43,000 after acquiring an additional 734 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Westamerica Bancorporation by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock valued at $126,000 after acquiring an additional 1,245 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Westamerica Bancorporation during the 4th quarter valued at about $201,000. Gallacher Capital Management LLC purchased a new position in shares of Westamerica Bancorporation during the 4th quarter valued at about $205,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Westamerica Bancorporation during the 4th quarter valued at about $213,000. Institutional investors own 81.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target 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. Piper Sandler cut their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report 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 Stock Performance

Shares of NASDAQ WABC traded down $0.54 during mid-day trading on Friday, hitting $50.23. 42,205 shares of the stock traded hands, compared to its average volume of 136,639. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 10.07 and a beta of 0.64. The stock has a fifty day moving average price of $49.06 and a 200-day moving average price of $49.51.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a return on equity of 14.95% and a net margin of 44.10%. The business had revenue of $64.88 million for the quarter, compared to the consensus estimate of $65.80 million. As a group, sell-side analysts predict 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. Stockholders of record on Monday, May 5th were issued a dividend of $0.46 per share. This is an increase 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 3.66%. The ex-dividend date of this dividend was Monday, May 5th. Westamerica Bancorporation's dividend payout ratio is presently 36.87%.

Insiders Place Their Bets

In other news, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John A. Thorson sold 2,243 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 11,591 shares in the company, valued at approximately $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

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.