New Age Alpha Advisors LLC Lowers Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Westamerica Bancorporation by 26.6%, selling 9,472 shares in the first quarter, resulting in ownership of approximately 26,082 shares worth $1,321,000.
• Several institutional investors, including JPMorgan Chase & Co. and GAMMA Investing LLC, significantly increased their holdings in Westamerica Bancorporation, with 81.89% of the stock now owned by institutional investors.
• Westamerica Bancorporation recently declared a quarterly dividend of $0.46, which signifies an annualized dividend yield of 3.9% with a payout ratio of 38.49%.

New Age Alpha Advisors LLC reduced its position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 26.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,082 shares of the financial services provider's stock after selling 9,472 shares during the quarter. New Age Alpha Advisors LLC owned 0.10% of Westamerica Bancorporation worth $1,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WABC. JPMorgan Chase & Co. boosted its holdings in shares of Westamerica Bancorporation by 74.7% in the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock worth $7,467,000 after purchasing an additional 60,871 shares in the last quarter. Norges Bank purchased a new stake in Westamerica Bancorporation during the 4th quarter valued at about $3,564,000. O Shaughnessy Asset Management LLC boosted its holdings in Westamerica Bancorporation by 9.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,501 shares of the financial services provider's stock valued at $603,000 after acquiring an additional 1,019 shares during the period. Geode Capital Management LLC boosted its holdings in Westamerica Bancorporation by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 753,088 shares of the financial services provider's stock valued at $39,515,000 after acquiring an additional 17,649 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in Westamerica Bancorporation during the 4th quarter valued at about $1,035,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Trading Up 3.0%

NASDAQ WABC traded up $1.41 on Tuesday, hitting $49.01. The company's stock had a trading volume of 37,179 shares, compared to its average volume of 151,113. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. The company's 50-day simple moving average is $48.84 and its 200 day simple moving average is $49.14. The firm has a market cap of $1.25 billion, a P/E ratio of 10.25 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%. The business had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. Research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be issued a $0.46 dividend. The ex-dividend date is Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.8%. Westamerica Bancorporation's dividend payout ratio (DPR) is 38.49%.

Analyst Ratings Changes

WABC has been the subject of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a report on Monday, July 21st. Piper Sandler dropped their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Wall Street Zen cut Westamerica Bancorporation from a "hold" rating to a "sell" rating in a report on Saturday.

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.