Schonfeld Strategic Advisors LLC Purchases New Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Schonfeld Strategic Advisors LLC bought a new stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,360 shares of the financial services provider's stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at $3,647,000. Norges Bank acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $3,564,000. JPMorgan Chase & Co. lifted its holdings in Westamerica Bancorporation by 74.7% in the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock valued at $7,467,000 after purchasing an additional 60,871 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Westamerica Bancorporation by 17.7% during the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock worth $20,669,000 after purchasing an additional 59,325 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Westamerica Bancorporation during the fourth quarter worth about $1,865,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 710 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total value of $34,193.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John A. Thorson sold 2,243 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the transaction, the senior vice president now directly owns 11,591 shares in the company, valued at approximately $562,974.87. This represents a 16.21% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Westamerica Bancorporation Trading Down 0.6%

Shares of WABC stock traded down $0.28 during trading hours on Friday, hitting $50.42. 50,190 shares of the company were exchanged, compared to its average volume of 133,480. The firm has a fifty day moving average of $48.56 and a 200 day moving average of $51.48. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The firm has a market cap of $1.32 billion, a PE ratio of 9.71 and a beta of 0.64.

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, topping analysts' consensus estimates of $1.09 by $0.07. The company had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. Analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a $0.46 dividend. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, May 5th. Westamerica Bancorporation's dividend payout ratio (DPR) is 36.87%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WABC shares. Piper Sandler reduced their price objective on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. StockNews.com upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, 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 report on Monday, April 21st.

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.