Westamerica Bancorporation (NASDAQ:WABC) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,395 shares of the financial services provider’s stock after buying an additional 4,355 shares during the period. Raymond James & Associates owned approximately 0.14% of Westamerica Bancorporation worth $2,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. raised its stake in Westamerica Bancorporation by 8.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after acquiring an additional 14,206 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Westamerica Bancorporation during the 3rd quarter worth about $2,990,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Westamerica Bancorporation by 44.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 1,562 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Westamerica Bancorporation by 53.3% in the third quarter. Los Angeles Capital Management LLC now owns 26,514 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 9,220 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Westamerica Bancorporation by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock valued at $12,198,000 after acquiring an additional 13,758 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total value of $527,416.88. Following the transaction, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO David L. Payne sold 8,728 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total transaction of $444,691.60. Following the completion of the sale, the chief executive officer now directly owns 333,689 shares in the company, valued at $17,001,454.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the transaction, the chief executive officer now owns 242,417 shares in the company, valued at approximately $11,342,691.43. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $2,213,458 over the last ninety days. 5.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WABC has been the subject of a number of research analyst reports. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 19th. Finally, Piper Sandler dropped their price target on shares of Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $45.62 on Wednesday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 7.53 and a beta of 0.56. The business’s fifty day moving average is $46.80 and its two-hundred day moving average is $49.00. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, January 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Westamerica Bancorporation had a return on equity of 23.61% and a net margin of 49.39%. The company had revenue of $80.37 million for the quarter, compared to analyst estimates of $81.03 million. On average, research analysts forecast that Westamerica Bancorporation will post 5.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is presently 29.04%.

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.