Two Sigma Investments LP Has $2.52 Million Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Two Sigma Investments LP trimmed its position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 19.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,980 shares of the financial services provider's stock after selling 11,338 shares during the period. Two Sigma Investments LP owned 0.18% of Westamerica Bancorporation worth $2,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invenomic Capital Management LP acquired a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $5,437,000. Raymond James Financial Inc. bought a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at about $3,647,000. Norges Bank acquired a new stake in Westamerica Bancorporation during the fourth quarter worth about $3,564,000. JPMorgan Chase & Co. lifted its holdings in Westamerica Bancorporation by 74.7% in the fourth 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. Finally, Northern Trust Corp boosted its stake 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 valued at $20,669,000 after acquiring an additional 59,325 shares during the period. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Stock Performance

Shares of WABC traded down $0.53 during mid-day trading on Wednesday, reaching $47.57. 112,945 shares of the company's stock traded hands, compared to its average volume of 137,345. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The business's 50-day moving average price is $47.91 and its 200-day moving average price is $50.88. The stock has a market capitalization of $1.25 billion, a P/E ratio of 9.15 and a beta of 0.65. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The firm had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Equities analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.46 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.84 annualized dividend and a yield of 3.87%. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's dividend payout ratio is presently 36.87%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WABC. Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler cut their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

Insider Buying and Selling

In other news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the sale, the senior vice president now owns 11,591 shares of the company's stock, 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 link. Also, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

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.