Westamerica Bancorporation (NASDAQ:WABC) Shares Purchased by Jacobs Asset Management LLC

Jacobs Asset Management LLC raised its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,250 shares of the financial services provider's stock after purchasing an additional 15,000 shares during the quarter. Westamerica Bancorporation comprises approximately 4.1% of Jacobs Asset Management LLC's portfolio, making the stock its 11th largest holding. Jacobs Asset Management LLC owned about 0.49% of Westamerica Bancorporation worth $6,885,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in Westamerica Bancorporation in the 4th quarter valued at $643,000. Graham Capital Management L.P. purchased a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at about $254,000. Fiduciary Trust Co acquired a new position in shares of Westamerica Bancorporation during the fourth quarter worth about $252,000. Deutsche Bank AG raised its holdings in Westamerica Bancorporation by 58.0% during the fourth quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock worth $1,192,000 after purchasing an additional 8,342 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Westamerica Bancorporation by 77.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,132 shares of the financial services provider's stock worth $479,000 after purchasing an additional 3,972 shares in the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Westamerica Bancorporation

In other Westamerica Bancorporation news, 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 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $49.84 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The stock has a fifty day moving average of $48.56 and a two-hundred day moving average of $51.52. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.58 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. The business had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. On average, analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, May 5th. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.69%. Westamerica Bancorporation's payout ratio is currently 36.87%.

Analysts Set New Price Targets

A number of research firms recently weighed in on WABC. StockNews.com downgraded Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Piper Sandler decreased their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods cut their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a report on Monday, April 21st.

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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