Renaissance Technologies LLC Has $7.95 Million Stake in Westamerica Bancorporation $WABC

Renaissance Technologies LLC lifted its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 59.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,431 shares of the financial services provider’s stock after buying an additional 56,900 shares during the period. Renaissance Technologies LLC’s holdings in Westamerica Bancorporation were worth $7,949,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WABC. SG Americas Securities LLC grew its stake in Westamerica Bancorporation by 87.4% in the fourth quarter. SG Americas Securities LLC now owns 32,499 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 15,157 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Westamerica Bancorporation by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 944,699 shares of the financial services provider’s stock valued at $49,265,000 after purchasing an additional 47,127 shares during the period. Assenagon Asset Management S.A. bought a new position in Westamerica Bancorporation in the 1st quarter worth $1,835,000. UBS Group AG lifted its position in shares of Westamerica Bancorporation by 279.4% during the 4th quarter. UBS Group AG now owns 457,206 shares of the financial services provider’s stock worth $21,868,000 after purchasing an additional 336,714 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Westamerica Bancorporation by 64.1% during the 1st quarter. First Trust Advisors LP now owns 130,982 shares of the financial services provider’s stock valued at $6,831,000 after purchasing an additional 51,148 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Price Performance

NASDAQ:WABC opened at $60.32 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.22 and a current ratio of 0.20. The company has a 50-day moving average of $58.45 and a 200-day moving average of $54.44. Westamerica Bancorporation has a 52 week low of $44.93 and a 52 week high of $63.61. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.29 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. The business had revenue of $62.77 million for the quarter, compared to analysts’ expectations of $61.60 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 42.29%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WABC shares. Keefe, Bruyette & Woods raised their target price on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.