Los Angeles Capital Management LLC Has $2.61 Million Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Los Angeles Capital Management LLC boosted its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 74.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 46,266 shares of the financial services provider’s stock after purchasing an additional 19,752 shares during the period. Los Angeles Capital Management LLC’s holdings in Westamerica Bancorporation were worth $2,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WABC. AF Advisors Inc. acquired a new position in Westamerica Bancorporation during the fourth quarter valued at approximately $237,000. Jackson Creek Investment Advisors LLC acquired a new position in Westamerica Bancorporation during the fourth quarter worth about $1,083,000. Russell Investments Group Ltd. lifted its holdings in shares of Westamerica Bancorporation by 24.3% in the fourth quarter. Russell Investments Group Ltd. now owns 97,918 shares of the financial services provider’s stock worth $5,524,000 after acquiring an additional 19,147 shares during the last quarter. Leeward Investments LLC MA acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at approximately $9,515,000. Finally, Bailard Inc. grew its holdings in shares of Westamerica Bancorporation by 49.4% during the 4th quarter. Bailard Inc. now owns 12,404 shares of the financial services provider’s stock valued at $700,000 after purchasing an additional 4,104 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP George S. Ensinger sold 635 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at $193,915.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO John A. Thorson sold 1,100 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.61, for a total transaction of $30,232.35. Following the sale, the senior vice president now directly owns 4,073 shares in the company, valued at approximately $193,915.53. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Westamerica Bancorporation Price Performance

NASDAQ:WABC opened at $49.32 on Tuesday. Westamerica Bancorporation has a one year low of $36.85 and a one year high of $57.96. The company has a market cap of $1.32 billion, a PE ratio of 8.33 and a beta of 0.56. The firm’s 50 day simple moving average is $47.26 and its 200 day simple moving average is $49.33.

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

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $0.44 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.57%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WABC. StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Finally, Piper Sandler lowered their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, April 19th.

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.