State of Tennessee Department of Treasury Acquires 5,201 Shares of Westamerica Bancorporation (NASDAQ:WABC)

State of Tennessee Department of Treasury grew its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 75.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,131 shares of the financial services provider's stock after purchasing an additional 5,201 shares during the period. State of Tennessee Department of Treasury's holdings in Westamerica Bancorporation were worth $636,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC boosted its holdings in shares of Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 734 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Westamerica Bancorporation in the 4th quarter worth $65,000. KBC Group NV boosted 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 valued at $104,000 after purchasing an additional 822 shares in the last quarter. GAMMA Investing LLC raised its holdings in Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after acquiring an additional 268 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new position in shares of Westamerica Bancorporation during the 4th quarter worth $205,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Westamerica Bancorporation Trading Down 0.9 %

Shares of WABC stock traded down $0.43 during mid-day trading on Friday, reaching $49.53. The company's stock had a trading volume of 23,414 shares, compared to its average volume of 130,173. 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 company's 50 day simple moving average is $48.57 and its 200-day simple moving average is $51.53. The firm has a market capitalization of $1.32 billion, a PE ratio of 9.53 and a beta of 0.64. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its 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 net margin of 44.55% and a return on equity of 16.15%. The business had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. On average, research analysts predict 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. Shareholders of record on Monday, May 5th will be given a dividend of $0.46 per share. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a yield of 3.71%. Westamerica Bancorporation's dividend payout ratio is presently 36.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Monday. Piper Sandler lowered their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the firm'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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation stock in a transaction that occurred 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 sale, the senior vice president now owns 11,591 shares of the company's stock, valued at $562,974.87. This trade represents a 16.21 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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.