Westamerica Bancorporation (NASDAQ:WABC) Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 334,637 shares of the financial services provider's stock after purchasing an additional 52,399 shares during the quarter. Nuveen Asset Management LLC owned about 1.25% of Westamerica Bancorporation worth $17,555,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Westamerica Bancorporation by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider's stock valued at $183,898,000 after purchasing an additional 34,762 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Westamerica Bancorporation by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 875,300 shares of the financial services provider's stock worth $45,919,000 after acquiring an additional 9,928 shares in the last quarter. Geode Capital Management LLC raised its position in Westamerica Bancorporation by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 753,088 shares of the financial services provider's stock worth $39,515,000 after acquiring an additional 17,649 shares in the last quarter. Northern Trust Corp raised its position in Westamerica Bancorporation by 17.7% in the fourth quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock worth $20,669,000 after acquiring an additional 59,325 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Westamerica Bancorporation by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock worth $7,600,000 after acquiring an additional 5,368 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Trading Up 2.0%

NASDAQ WABC traded up $0.96 on Tuesday, hitting $48.93. 153,003 shares of the company were exchanged, compared to its average volume of 136,484. The company's 50 day moving average price is $48.34 and its 200-day moving average price is $51.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The firm has a market capitalization of $1.28 billion, a P/E ratio of 9.41 and a beta of 0.64. 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 data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 16.15% and a net margin of 44.55%. Analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, May 5th. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's payout ratio is presently 36.87%.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business'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 sale, the senior vice president now owns 11,591 shares in the company, valued at approximately $562,974.87. The trade was a 16.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $34,193.60. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Piper Sandler dropped their price target 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. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th.

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.