MQS Management LLC Invests $294,000 in Westamerica Bancorporation (NASDAQ:WABC)

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

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in 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 buying an additional 107,144 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Westamerica Bancorporation by 15.1% in the 4th quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider's stock worth $3,232,000 after purchasing an additional 8,100 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Westamerica Bancorporation by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider's stock worth $1,960,000 after purchasing an additional 1,940 shares during the period. Deutsche Bank AG raised its holdings in shares of Westamerica Bancorporation by 58.0% in the 4th quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock worth $1,192,000 after purchasing an additional 8,342 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter worth about $240,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock traded down $0.02 during trading on Thursday, hitting $50.76. The stock had a trading volume of 158,034 shares, compared to its average volume of 137,265. The business has a fifty day moving average of $49.04 and a two-hundred day moving average of $49.52. The firm has a market cap of $1.33 billion, a P/E ratio of 10.17 and a beta of 0.64. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. The company had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a return on equity of 14.95% and a net margin of 44.10%. As a group, research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change 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 3.62%. Westamerica Bancorporation's payout ratio is 36.87%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, SVP John A. Thorson sold 2,243 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of the stock in a transaction that occurred on 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 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.