Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 77.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,557 shares of the financial services provider’s stock after selling 19,483 shares during the quarter. Teacher Retirement System of Texas’ holdings in Westamerica Bancorporation were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted 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 lifted its holdings in shares of Westamerica Bancorporation by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,245 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at $201,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at $213,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at $240,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $50.14 on Friday. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The stock has a market cap of $1.31 billion, a PE ratio of 10.49 and a beta of 0.64. The firm’s 50-day simple moving average is $49.06 and its 200 day simple moving average is $49.47.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.86%. As a group, analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.84 annualized dividend and a yield of 3.67%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s dividend payout ratio is presently 38.49%.

Wall Street Analysts Forecast Growth

WABC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target 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. Piper Sandler cut their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, June 27th.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the firm’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 directly owned 11,591 shares in the company, valued at approximately $562,974.87. This trade represents a 16.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of the firm’s stock in a transaction dated 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. Corporate insiders own 5.30% 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.