Russell Investments Group Ltd. raised its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,918 shares of the financial services provider's stock after acquiring an additional 19,147 shares during the period. Russell Investments Group Ltd. owned 0.37% of Westamerica Bancorporation worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Leeward Investments LLC MA purchased a new position in Westamerica Bancorporation during the 4th quarter worth $9,515,000. Bailard Inc. increased its holdings in shares of Westamerica Bancorporation by 49.4% in the fourth quarter. Bailard Inc. now owns 12,404 shares of the financial services provider's stock valued at $700,000 after purchasing an additional 4,104 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Westamerica Bancorporation during the fourth quarter worth approximately $99,000. Strs Ohio purchased a new position in Westamerica Bancorporation in the 4th quarter valued at $112,000. Finally, Louisiana State Employees Retirement System acquired a new position in Westamerica Bancorporation in the 4th quarter valued at $750,000. Hedge funds and other institutional investors own 81.89% of the company's stock.
Westamerica Bancorporation Price Performance
Shares of WABC stock traded down $0.34 during midday trading on Friday, reaching $50.02. 124,693 shares of the company traded hands, compared to its average volume of 150,941. The firm has a market cap of $1.33 billion, a PE ratio of 8.51 and a beta of 0.56. The firm's 50 day simple moving average is $47.52 and its two-hundred day simple moving average is $49.36. Westamerica Bancorporation has a 1-year low of $36.85 and a 1-year high of $57.96.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results 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). The firm had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. As a group, research analysts anticipate that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.
Westamerica Bancorporation Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, May 3rd. Westamerica Bancorporation's payout ratio is 29.73%.
Analysts Set New Price Targets
Several analysts have recently weighed in on WABC shares. Piper Sandler lowered their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday, April 19th. StockNews.com downgraded Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd.
View Our Latest Research Report on WABC
Insider Transactions at Westamerica Bancorporation
In other Westamerica Bancorporation news, SVP George S. Ensinger sold 635 shares of the firm's stock in a transaction dated Monday, April 29th. The shares were 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 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. In related news, SVP George S. Ensinger sold 635 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.61, for a total transaction of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares in the company, valued at $193,915.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John A. Thorson sold 1,100 shares of the stock in a transaction dated Monday, April 22nd. The stock was 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. Insiders own 5.50% of the company's stock.
About Westamerica Bancorporation
(
Free Report)
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.
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