Jacobs Asset Management LLC increased its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 131,250 shares of the financial services provider's stock after buying an additional 15,000 shares during the period. Westamerica Bancorporation comprises approximately 4.1% of Jacobs Asset Management LLC's holdings, making the stock its 11th biggest position. Jacobs Asset Management LLC owned 0.49% of Westamerica Bancorporation worth $6,885,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Sterling Capital Management LLC boosted its holdings in shares of Westamerica Bancorporation by 815.6% during the fourth 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 during the period. Golden State Wealth Management LLC bought a new stake in Westamerica Bancorporation in the 4th quarter valued at about $65,000. KBC Group NV boosted its stake in 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 during the period. Two Sigma Securities LLC acquired a new position in Westamerica Bancorporation during the 4th quarter valued at about $201,000. Finally, Gallacher Capital Management LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth about $205,000. Institutional investors own 81.89% of the company's stock.
Westamerica Bancorporation Price Performance
Shares of NASDAQ:WABC traded down $0.10 during trading on Friday, reaching $50.60. The company had a trading volume of 223,846 shares, compared to its average volume of 134,166. The firm's fifty day moving average is $48.56 and its 200 day moving average is $51.48. 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 firm has a market capitalization of $1.32 billion, a PE ratio of 9.73 and a beta of 0.64. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve 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, 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 firm had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. On average, equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current year.
Westamerica Bancorporation Increases Dividend
The company 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. The ex-dividend date is Monday, May 5th. This represents a $1.84 annualized dividend and a yield of 3.64%. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 36.87%.
Analyst Ratings Changes
A number of research firms have recently weighed in on WABC. Piper Sandler cut their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods cut their target price on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday.
Read Our Latest Stock Report on WABC
Insider Activity at Westamerica Bancorporation
In other news, SVP John A. Thorson sold 2,243 shares of the firm's stock in a transaction 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Robert James Baker, Jr. sold 710 shares of the business's stock in a transaction 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. Company insiders own 5.30% of the company's stock.
About Westamerica Bancorporation
(
Free Report)
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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