Squarepoint Ops LLC Buys Shares of 13,780 Westamerica Bancorporation (NASDAQ:WABC)

Squarepoint Ops LLC purchased a new position in Westamerica Bancorporation (NASDAQ:WABC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,780 shares of the financial services provider’s stock, valued at approximately $669,000. Squarepoint Ops LLC owned 0.05% of Westamerica Bancorporation at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WABC. Sei Investments Co. boosted its holdings 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 valued at $5,936,000 after purchasing an additional 21,624 shares during the period. Janus Henderson Group PLC increased its stake in Westamerica Bancorporation by 124.0% in the 1st quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 14,738 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in shares of 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 valued at $12,326,000 after acquiring an additional 104,029 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Westamerica Bancorporation during the 1st quarter valued at about $258,000. Finally, Vanguard Group Inc. grew its holdings in shares of Westamerica Bancorporation by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,512,538 shares of the financial services provider’s stock worth $171,693,000 after purchasing an additional 19,654 shares in the last quarter. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $47.14 on Wednesday. The firm has a fifty day simple moving average of $49.80 and a two-hundred day simple moving average of $49.22. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. Westamerica Bancorporation has a twelve month low of $43.32 and a twelve month high of $58.49. The company has a market capitalization of $1.26 billion, a PE ratio of 7.96 and a beta of 0.55.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share 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 company had revenue of $79.57 million during the quarter, compared to analyst estimates of $74.28 million. Research analysts expect that Westamerica Bancorporation will post 5.2 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, August 5th. Westamerica Bancorporation’s payout ratio is 29.73%.

About Westamerica Bancorporation

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.