Assenagon Asset Management S.A. Has $656,000 Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Assenagon Asset Management S.A. lessened its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,959 shares of the financial services provider’s stock after selling 267 shares during the period. Assenagon Asset Management S.A.’s holdings in Westamerica Bancorporation were worth $656,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 734 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $201,000. Gallacher Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $205,000. One Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $210,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $212,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Insider Transactions at Westamerica Bancorporation

In related news, SVP John A. Thorson sold 2,243 shares of Westamerica Bancorporation stock in a transaction on 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 transaction, the senior vice president now owns 11,591 shares of the company’s stock, valued at $562,974.87. This trade represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction on 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. 5.30% of the stock is owned by company insiders.

Analyst Ratings Changes

WABC has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced 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 report on Monday, April 21st. Piper Sandler reduced their price target 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. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th.

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock opened at $46.06 on Thursday. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The firm has a market capitalization of $1.21 billion, a P/E ratio of 9.23 and a beta of 0.65. The company’s 50 day moving average price is $48.01 and its two-hundred day moving average price is $50.23.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. The company had revenue of $66.71 million for the quarter, compared to analyst estimates of $66.47 million. Westamerica Bancorporation had a net margin of 44.10% and a return on equity of 14.95%. On average, analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Monday, May 5th. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s payout ratio is 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.