D.A. Davidson & CO. Has $349,000 Position in Westamerica Bancorporation (NASDAQ:WABC)

D.A. Davidson & CO. reduced its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,895 shares of the financial services provider’s stock after selling 1,403 shares during the period. D.A. Davidson & CO.’s holdings in Westamerica Bancorporation were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Sterling Capital Management LLC increased its holdings in shares of Westamerica Bancorporation by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 734 shares in the last quarter. Golden State Wealth Management LLC raised its position in Westamerica Bancorporation by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,245 shares during the last quarter. Two Sigma Securities LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth approximately $201,000. Gallacher Capital Management LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth approximately $205,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth approximately $213,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Piper Sandler lowered 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.

Westamerica Bancorporation Price Performance

NASDAQ:WABC opened at $51.12 on Friday. The company has a market cap of $1.34 billion, a PE ratio of 10.24 and a beta of 0.64. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The firm’s 50 day simple moving average is $48.91 and its 200 day simple moving average is $49.56.

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

Westamerica Bancorporation Increases Dividend

The business also recently disclosed 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 of this dividend was Monday, May 5th. This represents a $1.84 annualized dividend and a dividend yield of 3.60%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s payout ratio is currently 36.87%.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business’s 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 sale, the senior vice president owned 11,591 shares in the company, valued at approximately $562,974.87. The trade was a 16.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert James Baker, Jr. sold 710 shares of the business’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 disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Westamerica Bancorporation Company 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.