AQR Capital Management LLC Purchases 8,297 Shares of Westamerica Bancorporation (NASDAQ:WABC)

AQR Capital Management LLC lifted its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,309 shares of the financial services provider's stock after buying an additional 8,297 shares during the quarter. AQR Capital Management LLC owned about 0.33% of Westamerica Bancorporation worth $4,633,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its holdings 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 valued at $20,669,000 after purchasing an additional 59,325 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Westamerica Bancorporation during the 4th quarter worth approximately $1,154,000. Aquatic Capital Management LLC grew its holdings in shares of Westamerica Bancorporation by 6,513.0% during the fourth quarter. Aquatic Capital Management LLC now owns 6,613 shares of the financial services provider's stock valued at $347,000 after buying an additional 6,513 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Westamerica Bancorporation during the 4th quarter valued at about $213,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $201,000. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock traded up $0.76 during midday trading on Wednesday, hitting $50.65. 89,490 shares of the company's stock were exchanged, compared to its average volume of 132,124. The company has a market cap of $1.35 billion, a P/E ratio of 9.74 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 stock has a 50-day moving average price of $48.54 and a two-hundred day moving average price of $51.50. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data 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 net margin of 44.55% and a return on equity of 16.15%. The company had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. On average, equities research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.63%. This is a boost 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 currently 36.87%.

Insiders Place Their Bets

In related news, SVP Robert James Baker, Jr. sold 710 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John A. Thorson sold 2,243 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $48.57, for a total value of $108,942.51. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday. Piper Sandler cut their price objective on shares of 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 decreased their target price on shares of 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 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.