Cwm LLC Increases Stake in Westamerica Bancorporation (NASDAQ:WABC)

Cwm LLC grew its position in Westamerica Bancorporation (NASDAQ:WABC) by 43.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,250 shares of the financial services provider’s stock after acquiring an additional 1,601 shares during the quarter. Cwm LLC’s holdings in Westamerica Bancorporation were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WABC. American Century Companies Inc. increased its stake in Westamerica Bancorporation by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after buying an additional 199,721 shares during the period. Kennedy Capital Management LLC increased its stake in Westamerica Bancorporation by 70.2% in the 1st quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock worth $12,326,000 after buying an additional 104,029 shares during the period. Dimensional Fund Advisors LP increased its stake in Westamerica Bancorporation by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock worth $41,801,000 after buying an additional 41,841 shares during the period. Stieven Capital Advisors L.P. increased its stake in Westamerica Bancorporation by 46.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock worth $5,470,000 after buying an additional 35,912 shares during the period. Finally, Sei Investments Co. increased its stake in Westamerica Bancorporation by 21.7% in the 1st quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock worth $5,936,000 after buying an additional 21,624 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

WABC opened at $51.71 on Wednesday. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $58.49. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.38 billion, a PE ratio of 8.73 and a beta of 0.55. The firm has a 50 day moving average of $49.84 and a two-hundred day moving average of $49.36.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, August 5th. Westamerica Bancorporation’s dividend payout ratio is presently 29.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WABC shares. StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Maxim Group cut shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Piper Sandler lifted their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.