Westamerica Bancorporation (NASDAQ:WABC) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its position in Westamerica Bancorporation (NASDAQ:WABC) by 70.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,627 shares of the financial services provider’s stock after acquiring an additional 3,972 shares during the quarter. Cerity Partners LLC’s holdings in Westamerica Bancorporation were worth $487,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in Westamerica Bancorporation by 815.6% during the fourth quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 734 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Westamerica Bancorporation by 100.0% during the first 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 in the last quarter. Two Sigma Securities LLC acquired a new stake in Westamerica Bancorporation during the fourth quarter worth approximately $201,000. Susquehanna Fundamental Investments LLC acquired a new stake in Westamerica Bancorporation during the fourth quarter worth approximately $213,000. Finally, Allworth Financial LP raised its holdings in Westamerica Bancorporation by 13.0% during the first quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 510 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WABC. Keefe, Bruyette & Woods cut their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, July 21st. Wall Street Zen raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, Piper Sandler cut their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 21st.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $49.05 on Friday. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $48.97 and its 200 day simple moving average is $49.42. The firm has a market capitalization of $1.28 billion, a PE ratio of 10.26 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The company had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. On average, equities research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Monday, August 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 38.49%.

Insider Transactions at Westamerica Bancorporation

In related news, SVP John A. Thorson sold 2,243 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $562,974.87. This 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 the SEC website. Company 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.