Piper Sandler Has Lowered Expectations for Westamerica Bancorporation (NASDAQ:WABC) Stock Price

Westamerica Bancorporation (NASDAQ:WABC - Free Report) had its target price cut by Piper Sandler from $54.00 to $50.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

Westamerica Bancorporation Stock Down 0.4 %

Shares of Westamerica Bancorporation stock traded down $0.20 during trading on Monday, reaching $48.23. 121,022 shares of the company traded hands, compared to its average volume of 128,509. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97. 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 market capitalization of $1.29 billion, a PE ratio of 9.28 and a beta of 0.63. The company has a 50 day moving average price of $48.84 and a 200-day moving average price of $51.60.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.07. The business had revenue of $66.71 million during 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%. As a group, equities research analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. Westamerica Bancorporation's dividend payout ratio (DPR) is 35.27%.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Westamerica Bancorporation by 20.6% during the third quarter. Jane Street Group LLC now owns 42,717 shares of the financial services provider's stock valued at $2,111,000 after acquiring an additional 7,285 shares during the last quarter. Barclays PLC raised its stake 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 worth $2,606,000 after purchasing an additional 26,871 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Westamerica Bancorporation by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider's stock worth $36,352,000 after buying an additional 28,902 shares during the last quarter. JPMorgan Chase & Co. grew its position in Westamerica Bancorporation by 68.0% during the third 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 period. Finally, GAMMA Investing LLC increased its holdings 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 worth $114,000 after buying an additional 268 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

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.