Algert Global LLC Acquires 304 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Algert Global LLC boosted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,365 shares of the financial services provider’s stock after buying an additional 304 shares during the quarter. Algert Global LLC owned approximately 0.24% of Westamerica Bancorporation worth $3,124,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in shares of Westamerica Bancorporation by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock valued at $650,000 after buying an additional 200 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Westamerica Bancorporation by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 221 shares during the last quarter. GAMMA Investing LLC boosted its stake in Westamerica Bancorporation by 13.8% in the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 226 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Westamerica Bancorporation by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 17,948 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 318 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Westamerica Bancorporation by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 23,342 shares of the financial services provider’s stock worth $1,141,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $48.06 on Wednesday. The business’s 50-day moving average is $50.51 and its two-hundred day moving average is $49.20. The company has a market capitalization of $1.28 billion, a P/E ratio of 8.12 and a beta of 0.55. Westamerica Bancorporation has a fifty-two week low of $42.28 and a fifty-two week high of $58.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, July 18th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. The firm had revenue of $79.57 million for the quarter, compared to analysts’ expectations of $74.28 million. Research analysts predict that Westamerica Bancorporation will post 5.2 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Monday, August 5th. Westamerica Bancorporation’s dividend payout ratio is presently 29.73%.

Analysts Set New Price Targets

WABC has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Maxim Group downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, Westamerica Bancorporation presently has a consensus rating of “Hold” and an average target price of $57.00.

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.