XTX Topco Ltd Invests $1.65 Million in Westamerica Bancorporation (NASDAQ:WABC)

XTX Topco Ltd acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,668 shares of the financial services provider's stock, valued at approximately $1,654,000. XTX Topco Ltd owned approximately 0.12% of Westamerica Bancorporation as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its stake in shares of Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after buying an additional 734 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Westamerica Bancorporation by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock worth $126,000 after acquiring an additional 1,245 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $201,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $213,000. Finally, Allworth Financial LP boosted its stake in shares of Westamerica Bancorporation by 13.0% in the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after purchasing an additional 510 shares during the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on WABC. Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods reduced their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a research report on Monday, July 21st. Finally, Piper Sandler lowered their target price 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.

Westamerica Bancorporation Price Performance

Shares of WABC traded up $0.56 during trading hours on Monday, reaching $47.42. 17,480 shares of the company's stock traded hands, compared to its average volume of 152,194. The firm's 50 day simple moving average is $48.92 and its 200-day simple moving average is $49.32. The stock has a market cap of $1.24 billion, a PE ratio of 9.92 and a beta of 0.63. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.11.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $65.80 million. Equities analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

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