Cwm LLC Raises Stake in Westamerica Bancorporation (NASDAQ:WABC)

Cwm LLC lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 248.3% during the first quarter, HoldingsChannel.com reports. The firm owned 3,135 shares of the financial services provider’s stock after purchasing an additional 2,235 shares during the period. Cwm LLC’s holdings in Westamerica Bancorporation were worth $153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Westamerica Bancorporation by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after purchasing an additional 18,297 shares in the last quarter. Leeward Investments LLC MA purchased a new stake in Westamerica Bancorporation during the 4th quarter worth about $9,515,000. Los Angeles Capital Management LLC lifted its holdings in Westamerica Bancorporation by 74.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 46,266 shares of the financial services provider’s stock valued at $2,610,000 after purchasing an additional 19,752 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Westamerica Bancorporation by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock worth $44,155,000 after purchasing an additional 21,547 shares during the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Westamerica Bancorporation during the third quarter worth about $2,990,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WABC. Keefe, Bruyette & Woods restated 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. Piper Sandler decreased their price objective on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, May 17th.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 635 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.61, for a total transaction of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at $193,915.53. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO John A. Thorson sold 1,100 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares in the company, valued at $193,915.53. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $46.73 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.89 and a beta of 0.56. Westamerica Bancorporation has a one year low of $38.10 and a one year high of $57.96. The company has a 50 day moving average price of $47.92 and a 200 day moving average price of $49.19.

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

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Friday, May 3rd. Westamerica Bancorporation’s payout ratio is currently 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.