New York State Common Retirement Fund decreased its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,825 shares of the financial services provider's stock after selling 5,605 shares during the quarter. New York State Common Retirement Fund owned approximately 0.50% of Westamerica Bancorporation worth $6,776,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in Westamerica Bancorporation by 815.6% during the fourth quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock worth $43,000 after purchasing an additional 734 shares during the period. Golden State Wealth Management LLC grew its stake 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 buying an additional 1,245 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $201,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at approximately $213,000. Finally, Allworth Financial LP lifted its holdings in Westamerica Bancorporation by 13.0% in the first quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after acquiring an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company's stock.
Insider Buying and Selling at Westamerica Bancorporation
In other news, 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 completion of the transaction, the senior vice president owned 11,591 shares in the company, valued at approximately $562,974.87. This trade represents a 16.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company's stock.
Westamerica Bancorporation Trading Down 2.1%
Shares of NASDAQ:WABC traded down $1.05 during mid-day trading on Thursday, reaching $48.97. 147,664 shares of the company were exchanged, compared to its average volume of 107,442. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.30. The firm's 50-day simple moving average is $49.00 and its 200 day simple moving average is $49.43. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 10.24 and a beta of 0.64.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $64.88 million for the quarter, compared to the consensus estimate of $65.80 million. Equities research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current year.
Westamerica Bancorporation Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.76%. Westamerica Bancorporation's dividend payout ratio (DPR) is 38.49%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on WABC shares. Keefe, Bruyette & Woods lowered their price objective on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a research report on Monday. Piper Sandler lowered their price target 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 raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, June 27th.
Check Out Our Latest Stock Analysis on WABC
Westamerica Bancorporation Profile
(
Free Report)
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.
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