Westamerica Bancorporation (NASDAQ:WABC) Stock Position Lifted by Bailard Inc.

Bailard Inc. boosted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 49.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,404 shares of the financial services provider’s stock after purchasing an additional 4,104 shares during the period. Bailard Inc.’s holdings in Westamerica Bancorporation were worth $700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Westamerica Bancorporation by 198.3% in the third quarter. SG Americas Securities LLC now owns 9,701 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 6,449 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Westamerica Bancorporation by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 30,587 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 1,271 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Westamerica Bancorporation by 37.0% in the third quarter. Raymond James & Associates now owns 33,040 shares of the financial services provider’s stock worth $1,429,000 after buying an additional 8,931 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Westamerica Bancorporation by 44.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock worth $220,000 after buying an additional 1,562 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Westamerica Bancorporation in the third quarter worth $241,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $47.44 on Friday. The business has a 50 day simple moving average of $47.02 and a 200 day simple moving average of $49.11. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 8.01 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). The company had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. On average, analysts predict that Westamerica Bancorporation will post 5.3 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, May 3rd. Westamerica Bancorporation’s payout ratio is presently 29.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WABC shares. Piper Sandler lowered their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd.

Insider Activity

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $46.79, for a total value of $527,416.88. Following the transaction, the chief executive officer now owns 242,417 shares in the company, valued at $11,342,691.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David L. Payne sold 10,000 shares of Westamerica Bancorporation stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total value of $495,100.00. Following the completion of the transaction, the chief executive officer now owns 268,689 shares in the company, valued at approximately $13,302,792.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,372 shares of company stock valued at $1,074,481. 4.40% of the stock is owned by insiders.

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.