Barclays PLC Boosts Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Barclays PLC raised its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,181 shares of the financial services provider’s stock after purchasing an additional 1,426 shares during the period. Barclays PLC owned 0.20% of Westamerica Bancorporation worth $2,842,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC lifted its stake in Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after buying an additional 734 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Westamerica Bancorporation in the fourth quarter worth $65,000. KBC Group NV lifted its position in shares of Westamerica Bancorporation by 71.4% in the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 822 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Westamerica Bancorporation by 14.1% during the fourth quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 268 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in Westamerica Bancorporation during the 4th quarter worth about $205,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John A. Thorson sold 2,243 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the sale, the senior vice president now owns 11,591 shares in the company, valued at approximately $562,974.87. This trade represents a 16.21 % decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WABC shares. Keefe, Bruyette & Woods decreased their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Piper Sandler decreased their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $48.90 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 9.40 and a beta of 0.63. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The firm has a 50 day moving average price of $48.79 and a 200 day moving average price of $51.63.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The firm had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. Sell-side analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.76%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 36.87%.

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.