Voloridge Investment Management LLC Buys 7,739 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Voloridge Investment Management LLC increased its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 89.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,401 shares of the financial services provider's stock after buying an additional 7,739 shares during the period. Voloridge Investment Management LLC owned about 0.06% of Westamerica Bancorporation worth $860,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WABC. Barclays PLC lifted its holdings in shares of Westamerica Bancorporation by 103.8% during the 3rd quarter. Barclays PLC now owns 52,755 shares of the financial services provider's stock worth $2,606,000 after acquiring an additional 26,871 shares during the period. KBC Group NV boosted its holdings in Westamerica Bancorporation by 71.4% in the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after purchasing an additional 822 shares during the period. Golden State Wealth Management LLC acquired a new position in Westamerica Bancorporation in the fourth quarter worth $65,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Westamerica Bancorporation by 182.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,249 shares of the financial services provider's stock valued at $1,062,000 after acquiring an additional 13,092 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Westamerica Bancorporation by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock valued at $7,600,000 after acquiring an additional 5,368 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WABC has been the topic of several research reports. 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 lowered their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th.

Westamerica Bancorporation Price Performance

Shares of WABC stock traded up $0.55 during trading hours on Tuesday, hitting $48.10. 158,514 shares of the company's stock were exchanged, compared to its average volume of 137,236. The stock's 50-day moving average is $47.97 and its 200-day moving average is $50.90. 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 stock has a market cap of $1.26 billion, a price-to-earnings ratio of 9.25 and a beta of 0.64. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97.

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

Westamerica Bancorporation Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a yield of 3.83%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's dividend payout ratio (DPR) is 36.87%.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 11,591 shares in the company, valued at $562,974.87. This trade represents a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert James Baker, Jr. sold 710 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were 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. Company insiders own 5.30% of the company's stock.

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.