Teacher Retirement System of Texas Sells 19,483 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Teacher Retirement System of Texas lessened its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 77.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,557 shares of the financial services provider's stock after selling 19,483 shares during the quarter. Teacher Retirement System of Texas' holdings in Westamerica Bancorporation were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Westamerica Bancorporation by 4,946.6% during the first quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock worth $5,534,000 after purchasing an additional 107,144 shares during the period. Two Sigma Advisers LP grew its stake in shares of Westamerica Bancorporation by 15.1% during the 4th quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider's stock worth $3,232,000 after acquiring an additional 8,100 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Westamerica Bancorporation by 5.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider's stock worth $1,960,000 after acquiring an additional 1,940 shares during the period. Deutsche Bank AG boosted its stake in Westamerica Bancorporation by 58.0% in the 4th quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock worth $1,192,000 after purchasing an additional 8,342 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth about $240,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WABC shares. Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Piper Sandler dropped their price target on 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, Keefe, Bruyette & Woods dropped their target price on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday.

Westamerica Bancorporation Stock Up 0.9%

WABC stock traded up $0.44 on Wednesday, hitting $50.02. 120,148 shares of the company's stock were exchanged, compared to its average volume of 136,434. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The firm has a 50 day moving average price of $49.04 and a two-hundred day moving average price of $49.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market cap of $1.31 billion, a P/E ratio of 10.46 and a beta of 0.64.

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

Westamerica Bancorporation Increases Dividend

The firm also recently declared 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 was Monday, May 5th. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 3.68%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 38.49%.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation 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 transaction, the senior vice president directly owned 11,591 shares in the company, valued at approximately $562,974.87. This trade represents a 16.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation 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. 5.30% of the stock is owned by company insiders.

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.