4,200 Shares in Westamerica Bancorporation (NASDAQ:WABC) Purchased by AF Advisors Inc.

AF Advisors Inc. acquired a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,200 shares of the financial services provider’s stock, valued at approximately $237,000. Westamerica Bancorporation accounts for 0.1% of AF Advisors Inc.’s investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors have also recently bought and sold shares of WABC. Global Retirement Partners LLC bought a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. boosted its holdings in Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 355 shares during the last quarter. GAMMA Investing LLC bought a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $99,000. Strs Ohio bought a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $112,000. Finally, Mutual of America Capital Management LLC bought a new stake in Westamerica Bancorporation in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

Shares of WABC stock traded up $1.12 during trading hours on Wednesday, hitting $47.67. 101,123 shares of the company were exchanged, compared to its average volume of 154,260. The firm has a market cap of $1.27 billion, a P/E ratio of 8.05 and a beta of 0.56. Westamerica Bancorporation has a fifty-two week low of $35.52 and a fifty-two week high of $57.96. The company has a 50 day simple moving average of $47.04 and a two-hundred day simple moving average of $49.22.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. As a group, sell-side analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Analyst Ratings Changes

Several analysts recently commented on WABC shares. Piper Sandler reduced their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. Finally, StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th.

Insiders Place Their Bets

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total value of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total value of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares in the company, valued at $11,342,691.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John A. Thorson sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The disclosure for this sale can be found here. Insiders sold a total of 13,007 shares of company stock valued at $609,613 over the last quarter. 4.40% of the stock is owned by corporate insiders.

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.