Renaissance Technologies LLC Buys New Stake in Westamerica Bancorporation (NASDAQ:WABC)

Renaissance Technologies LLC acquired a new position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,831 shares of the financial services provider's stock, valued at approximately $1,303,000. Renaissance Technologies LLC owned about 0.09% of Westamerica Bancorporation at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Westamerica Bancorporation in the fourth quarter worth about $65,000. KBC Group NV raised its stake in shares of Westamerica Bancorporation by 71.4% during the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after acquiring an additional 822 shares in the last quarter. GAMMA Investing LLC lifted its position in Westamerica Bancorporation by 14.1% during the fourth quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 268 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $205,000. Finally, One Capital Management LLC purchased a new position in Westamerica Bancorporation in the fourth quarter worth $210,000. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Stock Performance

Shares of WABC traded up $0.87 during trading hours on Friday, reaching $49.61. 162,926 shares of the company traded hands, compared to its average volume of 129,880. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $48.76 and a 200-day moving average price of $51.60. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The stock has a market capitalization of $1.33 billion, a P/E ratio of 9.54 and a beta of 0.63.

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

Westamerica Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, May 5th. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's dividend payout ratio is 36.87%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WABC shares. Keefe, Bruyette & Woods lowered their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Piper Sandler dropped their price target 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.

Insiders Place Their Bets

In other Westamerica Bancorporation 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 filing with the SEC, which is available through this link. Also, SVP John A. Thorson sold 2,243 shares of the business's 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 completion of the transaction, the senior vice president now directly owns 11,591 shares of the company's stock, valued at approximately $562,974.87. This trade represents a 16.21 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

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.