Westamerica Bancorporation (NASDAQ:WABC) Sees Strong Trading Volume - What's Next?

Shares of Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) saw an uptick in trading volume on Monday . 233,560 shares changed hands during trading, an increase of 79% from the previous session's volume of 130,761 shares.The stock last traded at $50.60 and had previously closed at $49.85.

Wall Street Analysts Forecast Growth

WABC has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Piper Sandler decreased 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. Finally, StockNews.com cut Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Monday, May 5th.

Westamerica Bancorporation Trading Up 0.9%

The company has a 50-day moving average price of $48.56 and a 200 day moving average price of $51.51. The stock has a market capitalization of $1.34 billion, a P/E ratio of 9.68 and a beta of 0.64. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The company had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. On average, research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share 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 issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.66%. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, May 5th. Westamerica Bancorporation's payout ratio is 36.87%.

Insider Transactions at Westamerica Bancorporation

In other news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction on Monday, April 28th. The stock was 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 $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of hedge funds and other institutional investors have recently modified their holdings of WABC. Principal Financial Group Inc. boosted its holdings in shares of Westamerica Bancorporation by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock worth $7,600,000 after purchasing an additional 5,368 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in shares of Westamerica Bancorporation in the fourth quarter valued at about $245,000. Barclays PLC raised its holdings in 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 last quarter. JPMorgan Chase & Co. increased its stake in shares of Westamerica Bancorporation by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider's stock valued at $4,026,000 after acquiring an additional 32,981 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Westamerica Bancorporation by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider's stock valued at $1,960,000 after purchasing an additional 1,940 shares during the period. 81.89% of the stock is currently 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.

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