Rafferty Asset Management LLC Acquires 6,462 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Rafferty Asset Management LLC grew its holdings in shares of Westamerica Bancorporation (NASDAQ:WABCFree Report) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,784 shares of the financial services provider’s stock after acquiring an additional 6,462 shares during the period. Rafferty Asset Management LLC owned about 0.10% of Westamerica Bancorporation worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Westamerica Bancorporation by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock valued at $16,941,000 after purchasing an additional 18,297 shares during the period. Leeward Investments LLC MA purchased a new stake in Westamerica Bancorporation in the 4th quarter worth approximately $9,515,000. Los Angeles Capital Management LLC raised its stake in Westamerica Bancorporation by 74.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 46,266 shares of the financial services provider’s stock worth $2,610,000 after acquiring an additional 19,752 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Westamerica Bancorporation by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after purchasing an additional 21,547 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of Westamerica Bancorporation in the third quarter worth approximately $2,990,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Westamerica Bancorporation

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

Wall Street Analyst Weigh In

Several analysts have recently commented on WABC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 price objective (down from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Piper Sandler cut their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, April 19th.

Read Our Latest Report on Westamerica Bancorporation

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $46.14 on Tuesday. The company has a market cap of $1.23 billion, a P/E ratio of 7.79 and a beta of 0.56. Westamerica Bancorporation has a 52-week low of $38.10 and a 52-week high of $57.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.23 and a current ratio of 0.23. The firm’s fifty day moving average is $48.08 and its two-hundred day moving average is $49.48.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The firm had revenue of $78.84 million during the quarter, compared to the consensus estimate of $77.34 million. As a group, analysts anticipate that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.81%. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

About Westamerica Bancorporation

(Free Report)

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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Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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