Jefferies Financial Group Inc. Makes New $643,000 Investment in Westamerica Bancorporation (NASDAQ:WABC)

Jefferies Financial Group Inc. purchased a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,250 shares of the financial services provider's stock, valued at approximately $643,000.

Several other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in 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 worth $7,600,000 after buying an additional 5,368 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $245,000. Barclays PLC increased 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 valued at $2,606,000 after acquiring an additional 26,871 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Westamerica Bancorporation by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider's stock valued at $4,026,000 after acquiring an additional 32,981 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Westamerica Bancorporation by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider's stock worth $1,960,000 after purchasing an additional 1,940 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of Westamerica Bancorporation stock traded down $0.38 during midday trading on Thursday, hitting $48.81. The company had a trading volume of 35,364 shares, compared to its average volume of 135,237. The business's 50 day simple moving average is $48.53 and its two-hundred day simple moving average is $51.42. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97. 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 $1.28 billion, a PE ratio of 9.39 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were paid a $0.46 dividend. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date was Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.77%. Westamerica Bancorporation's dividend payout ratio is currently 36.87%.

Insider Activity

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total value of $34,193.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation stock in a transaction on Monday, April 28th. The shares were 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 approximately $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company's stock.

Analysts Set New Price Targets

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

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.