Inspire Investing LLC Has $412,000 Stake in Westamerica Bancorporation (NASDAQ:WABC)

Inspire Investing LLC grew its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 15.8% in the 3rd quarter, Holdings Channel reports. The fund owned 8,342 shares of the financial services provider’s stock after purchasing an additional 1,138 shares during the quarter. Inspire Investing LLC’s holdings in Westamerica Bancorporation were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. CWM LLC grew its position in shares of Westamerica Bancorporation by 43.9% in the 3rd quarter. CWM LLC now owns 5,250 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 1,601 shares during the period. SG Americas Securities LLC lifted its stake in Westamerica Bancorporation by 261.7% in the third quarter. SG Americas Securities LLC now owns 8,841 shares of the financial services provider’s stock valued at $437,000 after buying an additional 6,397 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Westamerica Bancorporation in the second quarter valued at approximately $36,000. Algert Global LLC increased its position in shares of Westamerica Bancorporation by 0.5% during the second quarter. Algert Global LLC now owns 64,365 shares of the financial services provider’s stock worth $3,124,000 after acquiring an additional 304 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Westamerica Bancorporation during the second quarter worth $726,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Up 1.6 %

Shares of WABC stock opened at $51.92 on Friday. The firm’s fifty day moving average price is $49.72 and its two-hundred day moving average price is $49.28. Westamerica Bancorporation has a 1 year low of $43.82 and a 1 year high of $58.49. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.39 billion, a P/E ratio of 9.05 and a beta of 0.55.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.03. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. The business had revenue of $79.57 million for the quarter, compared to analyst estimates of $74.28 million. On average, equities analysts predict that Westamerica Bancorporation will post 5.2 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, August 5th. Westamerica Bancorporation’s dividend payout ratio is currently 30.66%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Maxim Group cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.00.

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.