Westamerica Bancorporation (NASDAQ:WABC) Shares Acquired by Cwm LLC

Cwm LLC increased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 248.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the financial services provider’s stock after acquiring an additional 2,235 shares during the period. Cwm LLC’s holdings in Westamerica Bancorporation were worth $153,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in Westamerica Bancorporation in the 4th quarter worth $31,000. PNC Financial Services Group Inc. increased its stake in shares of Westamerica Bancorporation by 27.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 355 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter worth about $99,000. Strs Ohio purchased a new position in Westamerica Bancorporation in the 4th quarter valued at about $112,000. Finally, Mutual of America Capital Management LLC purchased a new position in Westamerica Bancorporation in the 3rd quarter valued at about $202,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Trading Down 0.7 %

WABC opened at $46.73 on Monday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.89 and a beta of 0.56. The company’s 50 day simple moving average is $47.92 and its two-hundred day simple moving average is $49.19. Westamerica Bancorporation has a 1-year low of $38.10 and a 1-year high of $57.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.23 and a quick ratio of 0.23.

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

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Friday, May 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Wall Street Analysts Forecast Growth

WABC has been the subject of a number of research analyst reports. StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Piper Sandler reduced their price objective on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

Insider Buying and Selling

In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George S. Ensinger sold 635 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares of the company’s stock, valued at $193,915.53. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

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.