GAMMA Investing LLC Purchases Shares of 1,753 Westamerica Bancorporation (NASDAQ:WABC)

GAMMA Investing LLC purchased a new stake in Westamerica Bancorporation (NASDAQ:WABC) in the 4th quarter, Holdings Channel reports. The firm purchased 1,753 shares of the financial services provider’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WABC. Global Retirement Partners LLC acquired a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. raised its position in shares of Westamerica Bancorporation by 27.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 355 shares in the last quarter. Strs Ohio acquired a new position in shares of Westamerica Bancorporation in the 4th quarter valued at approximately $112,000. Mutual of America Capital Management LLC bought a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at approximately $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $220,000 after acquiring an additional 1,562 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.5 %

NASDAQ:WABC opened at $47.44 on Monday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.01 and a beta of 0.56. Westamerica Bancorporation has a 1-year low of $35.52 and a 1-year high of $57.96. The business’s fifty day moving average price is $47.02 and its 200 day moving average price is $49.17.

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

Westamerica Bancorporation Announces Dividend

The company also recently announced 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. This represents a $1.76 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, May 3rd. Westamerica Bancorporation’s payout ratio is currently 29.73%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the company’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 transaction, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the company’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 transaction, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Payne sold 10,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total value of $495,100.00. Following the transaction, the chief executive officer now directly owns 268,689 shares in the company, valued at approximately $13,302,792.39. The disclosure for this sale can be found here. Insiders have sold a total of 22,372 shares of company stock valued at $1,074,481 in the last three months. Insiders own 5.50% of the company’s stock.

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.