Raymond James & Associates Has $2.11 Million Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Raymond James & Associates grew its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 13.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,395 shares of the financial services provider’s stock after acquiring an additional 4,355 shares during the period. Raymond James & Associates’ holdings in Westamerica Bancorporation were worth $2,109,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WABC shares. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods lowered their target price on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 19th. Finally, Piper Sandler reduced their price target on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, January 19th.

Westamerica Bancorporation Stock Down 1.8 %

Shares of Westamerica Bancorporation stock opened at $45.62 on Wednesday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 7.53 and a beta of 0.56. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96. The company has a 50-day simple moving average of $46.80 and a two-hundred day simple moving average of $49.00.

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

Westamerica Bancorporation Dividend Announcement

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

Insider Transactions at Westamerica Bancorporation

In related news, CEO David L. Payne sold 11,272 shares of the business’s 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 completion of the transaction, the chief executive officer now 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 can be accessed through the SEC website. In other Westamerica Bancorporation news, CEO David L. Payne sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $49.75, for a total value of $746,250.00. Following the sale, the chief executive officer now owns 288,689 shares of the company’s stock, valued at approximately $14,362,277.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David L. Payne sold 11,272 shares of the business’s stock in a transaction on 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 directly owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,000 shares of company stock valued at $2,213,458. 5.50% of the stock is owned by corporate insiders.

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.