19,190 Shares in Westamerica Bancorporation (NASDAQ:WABC) Purchased by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC bought a new position in Westamerica Bancorporation (NASDAQ:WABC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,190 shares of the financial services provider’s stock, valued at approximately $1,083,000. Jackson Creek Investment Advisors LLC owned approximately 0.07% of Westamerica Bancorporation at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Westamerica Bancorporation by 24.3% during the 4th quarter. Russell Investments Group Ltd. now owns 97,918 shares of the financial services provider’s stock worth $5,524,000 after acquiring an additional 19,147 shares during the period. Leeward Investments LLC MA acquired a new stake in Westamerica Bancorporation during the fourth quarter valued at $9,515,000. Bailard Inc. grew its stake in Westamerica Bancorporation by 49.4% in the fourth quarter. Bailard Inc. now owns 12,404 shares of the financial services provider’s stock valued at $700,000 after purchasing an additional 4,104 shares in the last quarter. GAMMA Investing LLC acquired a new position in Westamerica Bancorporation in the 4th quarter worth about $99,000. Finally, Strs Ohio purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $112,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WABC. Piper Sandler dropped their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd.

Insiders Place Their Bets

In related news, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the transaction, the chief executive officer now owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now directly owns 242,417 shares in the company, valued at $11,342,691.43. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO John A. Thorson sold 1,100 shares of the company’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 disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Westamerica Bancorporation Stock Performance

Shares of WABC traded down $0.92 during mid-day trading on Tuesday, hitting $46.55. The company’s stock had a trading volume of 82,982 shares, compared to its average volume of 154,901. The firm has a market capitalization of $1.24 billion, a PE ratio of 7.86 and a beta of 0.56. The stock’s 50-day moving average is $47.04 and its two-hundred day moving average is $49.20. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $57.96.

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

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.78%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

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.