Louisiana State Employees Retirement System purchased a new position in shares of Westamerica Bancorporation (NASDAQ:WABC – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,900 shares of the financial services provider’s stock, valued at approximately $568,000.
A number of other large investors also recently bought and sold shares of WABC. JPMorgan Chase & Co. grew its stake in shares of Westamerica Bancorporation by 43.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,266 shares of the financial services provider’s stock valued at $4,912,000 after buying an additional 29,964 shares during the period. SG Americas Securities LLC raised its position in shares of Westamerica Bancorporation by 87.4% in the 4th quarter. SG Americas Securities LLC now owns 32,499 shares of the financial services provider’s stock worth $1,554,000 after buying an additional 15,157 shares during the period. UBS Group AG boosted its holdings in Westamerica Bancorporation by 279.4% in the fourth quarter. UBS Group AG now owns 457,206 shares of the financial services provider’s stock valued at $21,868,000 after acquiring an additional 336,714 shares during the last quarter. WINTON GROUP Ltd grew its position in Westamerica Bancorporation by 92.1% during the fourth quarter. WINTON GROUP Ltd now owns 46,347 shares of the financial services provider’s stock valued at $2,217,000 after acquiring an additional 22,224 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Westamerica Bancorporation during the first quarter valued at about $1,835,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
Westamerica Bancorporation Price Performance
Shares of NASDAQ WABC opened at $58.77 on Wednesday. Westamerica Bancorporation has a 1-year low of $44.93 and a 1-year high of $60.53. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.09 and a beta of 0.56. The business has a 50-day moving average of $56.47 and a 200-day moving average of $52.96.
Westamerica Bancorporation Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.3%. Westamerica Bancorporation’s dividend payout ratio is presently 42.76%.
Wall Street Analysts Forecast Growth
WABC has been the topic of several research analyst reports. Weiss Ratings raised Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Westamerica Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $58.00.
View Our Latest Report on WABC
Insider Buying and Selling at Westamerica Bancorporation
In related news, SVP Robert James Baker, Jr. sold 759 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.
Westamerica Bancorporation Company Profile
Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.
The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.
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