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

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $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. grew its position 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 acquiring an additional 60,871 shares in the last quarter. Northern Trust Corp grew its position in Westamerica Bancorporation by 17.7% in the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock valued at $20,669,000 after acquiring an additional 59,325 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $1,865,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WABC has been the subject of several research reports. StockNews.com downgraded Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Piper Sandler lowered their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, 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.

Insider Buying and Selling

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

Westamerica Bancorporation Stock Performance

Shares of Westamerica Bancorporation stock opened at $49.84 on Monday. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company has a market cap of $1.33 billion, a PE ratio of 9.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The business has a 50-day simple moving average of $48.56 and a 200-day simple moving average of $51.51.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.07. The firm had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. On average, equities research analysts forecast 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 will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be paid a dividend of $0.46 per share. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. This represents a $1.84 annualized dividend and a yield of 3.69%. Westamerica Bancorporation's payout ratio is presently 36.87%.

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.

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