DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Purchases 3,972 Shares of Westamerica Bancorporation (NASDAQ:WABC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 77.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,132 shares of the financial services provider’s stock after purchasing an additional 3,972 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Westamerica Bancorporation were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WABC. Sterling Capital Management LLC lifted its holdings in Westamerica Bancorporation by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after buying an additional 734 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at $65,000. KBC Group NV lifted its stake in shares of Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 822 shares during the period. Two Sigma Securities LLC acquired a new position in shares of Westamerica Bancorporation in the 4th quarter valued at $201,000. Finally, Gallacher Capital Management LLC bought a new position in shares of Westamerica Bancorporation in the 4th quarter worth $205,000. Institutional investors own 81.89% of the company’s stock.

Insider Activity

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total value of $34,193.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John A. Thorson sold 2,243 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the transaction, the senior vice president now directly owns 11,591 shares of the company’s stock, valued at approximately $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Piper Sandler decreased their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday, May 5th.

Westamerica Bancorporation Trading Down 0.2%

Shares of NASDAQ WABC opened at $49.84 on Monday. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 9.58 and a beta of 0.64. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $48.56 and its 200-day moving average is $51.51.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.09 by $0.07. The business had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. Equities research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.69%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 36.87%.

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.