Bank of Montreal Can Takes Position in Westamerica Bancorporation (NASDAQ:WABC)

Bank of Montreal Can bought a new stake in Westamerica Bancorporation (NASDAQ:WABC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,100 shares of the financial services provider’s stock, valued at approximately $541,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new stake in shares of Westamerica Bancorporation in the first quarter valued at about $75,000. GAMMA Investing LLC increased its position in shares of Westamerica Bancorporation by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 226 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Westamerica Bancorporation during the 1st quarter worth approximately $113,000. SageView Advisory Group LLC acquired a new stake in shares of Westamerica Bancorporation in the 1st quarter valued at approximately $140,000. Finally, CWM LLC grew its stake in shares of Westamerica Bancorporation by 248.3% in the first quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock valued at $153,000 after buying an additional 2,235 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $47.14 on Wednesday. The company’s 50-day moving average is $49.80 and its 200-day moving average is $49.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $1.26 billion, a PE ratio of 7.96 and a beta of 0.55. Westamerica Bancorporation has a fifty-two week low of $43.32 and a fifty-two week high of $58.49.

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

Westamerica Bancorporation Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.76 annualized dividend and a yield of 3.73%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WABC shares. Maxim Group lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, Piper Sandler boosted their price target on Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.00.

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.