Deutsche Bank AG Grows Position in Westamerica Bancorporation (NASDAQ:WABC)

Deutsche Bank AG raised its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 58.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,727 shares of the financial services provider’s stock after acquiring an additional 8,342 shares during the quarter. Deutsche Bank AG owned 0.09% of Westamerica Bancorporation worth $1,192,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in WABC. Principal Financial Group Inc. increased its holdings in shares of Westamerica Bancorporation by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider’s stock valued at $7,600,000 after purchasing an additional 5,368 shares in the last quarter. Barclays PLC grew its position in Westamerica Bancorporation by 103.8% during the third quarter. Barclays PLC now owns 52,755 shares of the financial services provider’s stock worth $2,606,000 after buying an additional 26,871 shares during the period. Commonwealth Equity Services LLC grew its position in Westamerica Bancorporation by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider’s stock worth $1,960,000 after buying an additional 1,940 shares during the period. Northern Trust Corp increased its holdings in Westamerica Bancorporation by 17.7% in the fourth quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider’s stock valued at $20,669,000 after buying an additional 59,325 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Westamerica Bancorporation by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider’s stock valued at $183,898,000 after acquiring an additional 34,762 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Down 0.8%

WABC stock opened at $47.97 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The company’s 50 day simple moving average is $48.42 and its 200-day simple moving average is $51.30. The firm has a market capitalization of $1.26 billion, a PE ratio of 9.23 and a beta of 0.64. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. The business had revenue of $66.71 million during the quarter, compared to analyst estimates of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. Equities analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were paid a $0.46 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.84%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s dividend payout ratio (DPR) is 36.87%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their target price on Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Finally, Piper Sandler lowered their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 21st.

Insider Activity at Westamerica Bancorporation

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

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.