Royce & Associates LP Buys 8,933 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Royce & Associates LP boosted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 32.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,389 shares of the financial services provider's stock after acquiring an additional 8,933 shares during the period. Royce & Associates LP owned 0.14% of Westamerica Bancorporation worth $1,842,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WABC. KLP Kapitalforvaltning AS bought a new stake in Westamerica Bancorporation during the 4th quarter valued at about $273,000. Vanguard Group Inc. boosted its stake in shares of Westamerica Bancorporation by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider's stock worth $183,898,000 after acquiring an additional 34,762 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Westamerica Bancorporation by 74.7% during the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock worth $7,467,000 after acquiring an additional 60,871 shares during the last quarter. Norges Bank purchased a new position in shares of Westamerica Bancorporation during the 4th quarter worth $3,564,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Westamerica Bancorporation during the 4th quarter worth $1,865,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WABC has been the topic of several analyst reports. 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 note on Monday, April 21st. Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday, July 21st.

Westamerica Bancorporation Price Performance

Shares of WABC stock traded down $0.47 on Friday, hitting $47.44. 46,380 shares of the stock traded hands, compared to its average volume of 152,217. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 9.92 and a beta of 0.64. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The firm has a 50 day simple moving average of $48.93 and a two-hundred day simple moving average of $49.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.30.

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

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, August 4th. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 38.49%.

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.