Northern Trust Corp Raises Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Northern Trust Corp boosted its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,998 shares of the financial services provider's stock after purchasing an additional 59,325 shares during the period. Northern Trust Corp owned about 1.48% of Westamerica Bancorporation worth $20,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Westamerica Bancorporation by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock worth $7,600,000 after purchasing an additional 5,368 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Westamerica Bancorporation during the 4th quarter valued at $245,000. Barclays PLC lifted its position 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 buying an additional 26,871 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Westamerica Bancorporation by 68.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider's stock valued at $4,026,000 after buying an additional 32,981 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position 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 valued at $1,960,000 after buying an additional 1,940 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Price Performance

NASDAQ WABC traded down $0.10 during trading on Friday, reaching $50.60. The company's stock had a trading volume of 223,846 shares, compared to its average volume of 134,347. The stock has a market capitalization of $1.32 billion, a PE ratio of 9.73 and a beta of 0.64. 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 firm has a fifty day moving average of $48.58 and a 200 day moving average of $51.46. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. The business had revenue of $66.71 million for the quarter, compared to analyst estimates of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. Analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a $0.46 dividend. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, May 5th. Westamerica Bancorporation's dividend payout ratio is currently 36.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased 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. Piper Sandler decreased their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th.

Insiders Place Their Bets

In other news, SVP Robert James Baker, Jr. sold 710 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John A. Thorson sold 2,243 shares of the stock in a transaction dated 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 owns 11,591 shares in the company, valued at $562,974.87. This trade represents 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.

About Westamerica Bancorporation

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.