Los Angeles Capital Management LLC Has $2.61 Million Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Los Angeles Capital Management LLC increased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 74.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,266 shares of the financial services provider's stock after acquiring an additional 19,752 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.17% of Westamerica Bancorporation worth $2,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Westamerica Bancorporation by 198.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,701 shares of the financial services provider's stock worth $420,000 after purchasing an additional 6,449 shares during the period. Commonwealth Equity Services LLC increased its position in Westamerica Bancorporation by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 30,587 shares of the financial services provider's stock worth $1,323,000 after buying an additional 1,271 shares during the last quarter. Raymond James & Associates lifted its position in shares of Westamerica Bancorporation by 37.0% during the 3rd quarter. Raymond James & Associates now owns 33,040 shares of the financial services provider's stock valued at $1,429,000 after buying an additional 8,931 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Westamerica Bancorporation by 44.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider's stock worth $220,000 after acquiring an additional 1,562 shares during the period. Finally, Olympiad Research LP bought a new position in shares of Westamerica Bancorporation during the 3rd quarter worth $241,000. Hedge funds and other institutional investors own 81.89% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on WABC shares. Piper Sandler dropped their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, April 19th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. Finally, StockNews.com downgraded shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, April 16th.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock traded up $0.01 during mid-day trading on Tuesday, reaching $49.33. 102,212 shares of the company traded hands, compared to its average volume of 151,852. The firm's 50 day moving average price is $47.26 and its 200 day moving average price is $49.33. Westamerica Bancorporation has a 52-week low of $36.85 and a 52-week high of $57.96. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.33 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The firm had revenue of $78.84 million for the quarter, compared to the consensus estimate of $77.34 million. On average, sell-side analysts anticipate that Westamerica Bancorporation will post 5.3 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.57%. Westamerica Bancorporation's payout ratio is presently 29.73%.

Insider Transactions at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 635 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.61, for a total transaction of $30,232.35. Following the sale, the senior vice president now directly owns 4,073 shares in the company, valued at approximately $193,915.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP George S. Ensinger sold 635 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, the senior vice president now directly owns 4,073 shares of the company's stock, valued at approximately $193,915.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John A. Thorson sold 1,100 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The disclosure for this sale can be found here. 5.50% of the stock is owned by 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.