Voloridge Investment Management LLC Has $860,000 Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Voloridge Investment Management LLC lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 89.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,401 shares of the financial services provider's stock after acquiring an additional 7,739 shares during the period. Voloridge Investment Management LLC owned 0.06% of Westamerica Bancorporation worth $860,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WABC. Barclays PLC boosted its stake in Westamerica Bancorporation by 103.8% in the 3rd quarter. Barclays PLC now owns 52,755 shares of the financial services provider's stock worth $2,606,000 after buying an additional 26,871 shares during the last quarter. KBC Group NV raised its holdings in shares of Westamerica Bancorporation by 71.4% during the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock valued at $104,000 after buying an additional 822 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at about $65,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Westamerica Bancorporation by 182.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 20,249 shares of the financial services provider's stock valued at $1,062,000 after buying an additional 13,092 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Westamerica Bancorporation by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock valued at $7,600,000 after purchasing an additional 5,368 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.

Westamerica Bancorporation Stock Performance

WABC stock traded down $0.33 during trading on Friday, reaching $48.13. 132,204 shares of the company's stock were exchanged, compared to its average volume of 136,926. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The company's fifty day moving average price is $48.10 and its 200-day moving average price is $51.03. The firm has a market cap of $1.26 billion, a PE ratio of 9.26 and a beta of 0.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. The company had revenue of $66.71 million for the quarter, compared to analyst estimates of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. On average, research analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a yield of 3.82%. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's payout ratio is 36.87%.

Insider Buying and Selling at Westamerica Bancorporation

In related news, 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 transaction of $34,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $108,942.51. Following the transaction, the senior vice president now directly owns 11,591 shares of the company's stock, valued at $562,974.87. This represents a 16.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WABC shares. Keefe, Bruyette & Woods lowered their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Piper Sandler reduced their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th.

Westamerica Bancorporation Company 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.