XTX Topco Ltd Makes New Investment in Westamerica Bancorporation (NASDAQ:WABC)

XTX Topco Ltd purchased a new position in Westamerica Bancorporation (NASDAQ:WABC) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 32,668 shares of the financial services provider’s stock, valued at approximately $1,654,000. XTX Topco Ltd owned 0.12% of Westamerica Bancorporation at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new position in Westamerica Bancorporation during the fourth quarter worth about $273,000. Vanguard Group Inc. boosted 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 purchasing an additional 34,762 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Westamerica Bancorporation by 74.7% in the 4th quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider’s stock worth $7,467,000 after purchasing an additional 60,871 shares during the last quarter. Norges Bank acquired a new position in shares of Westamerica Bancorporation in the 4th quarter worth approximately $3,564,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Westamerica Bancorporation by 9.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,501 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 1,019 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, July 21st. Wall Street Zen upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Piper Sandler reduced their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $47.90 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.11. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The company has a market cap of $1.25 billion, a PE ratio of 10.02 and a beta of 0.64. The stock’s 50-day moving average price is $48.93 and its two-hundred day moving average price is $49.38.

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

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is 38.49%.

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.