Westamerica Bancorporation (NASDAQ:WABC) Shares Purchased by Kennedy Capital Management LLC

Kennedy Capital Management LLC boosted its stake in Westamerica Bancorporation (NASDAQ:WABC) by 70.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,177 shares of the financial services provider’s stock after acquiring an additional 104,029 shares during the period. Kennedy Capital Management LLC owned 0.95% of Westamerica Bancorporation worth $12,326,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in shares of Westamerica Bancorporation by 41.4% during the first quarter. Lazard Asset Management LLC now owns 19,663 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,760 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Westamerica Bancorporation during the first quarter worth $75,000. Stieven Capital Advisors L.P. raised its holdings in shares of Westamerica Bancorporation by 43.8% during the first quarter. Stieven Capital Advisors L.P. now owns 76,805 shares of the financial services provider’s stock worth $3,754,000 after purchasing an additional 23,398 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Westamerica Bancorporation by 35.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,441 shares of the financial services provider’s stock worth $1,437,000 after purchasing an additional 7,714 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Westamerica Bancorporation by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 221 shares during the period. 81.89% of the stock is owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

WABC traded up $0.03 on Tuesday, reaching $54.31. The company had a trading volume of 163,951 shares, compared to its average volume of 138,779. The company has a fifty day moving average of $49.49 and a 200-day moving average of $48.39. The company has a market capitalization of $1.45 billion, a P/E ratio of 9.19 and a beta of 0.56. The company has a current ratio of 0.25, a quick ratio of 0.23 and a debt-to-equity ratio of 0.37. Westamerica Bancorporation has a one year low of $41.89 and a one year high of $58.49.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. Westamerica Bancorporation had a net margin of 47.12% and a return on equity of 20.17%. The firm had revenue of $79.57 million during the quarter, compared to analyst estimates of $74.28 million. As a group, equities research analysts anticipate that Westamerica Bancorporation will post 5.2 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, August 5th. Westamerica Bancorporation’s payout ratio is 29.73%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WABC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler upped their price target on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Maxim Group lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.