Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,214 shares of the financial services provider’s stock after selling 356 shares during the period. Sequoia Financial Advisors LLC’s holdings in Westamerica Bancorporation were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter worth $31,000. Point72 Middle East FZE acquired a new position in shares of Westamerica Bancorporation in the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. grew its holdings in shares of Westamerica Bancorporation by 91.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,293 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 616 shares during the period. Money Concepts Capital Corp acquired a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $70,000. Finally, Captrust Financial Advisors raised its holdings in Westamerica Bancorporation by 123.9% in the first quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock valued at $94,000 after buying an additional 856 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on WABC. Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. Keefe, Bruyette & Woods lowered their price target on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 19th. Finally, StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday.

Westamerica Bancorporation Stock Up 2.7 %

WABC opened at $46.78 on Friday. The firm’s 50 day moving average is $46.87 and its 200-day moving average is $48.98. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96. The firm has a market capitalization of $1.25 billion, a P/E ratio of 7.90 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). The firm had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. Westamerica Bancorporation had a return on equity of 22.79% and a net margin of 48.35%. Equities analysts expect that Westamerica Bancorporation will post 5.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, CEO David L. Payne sold 8,728 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total value of $444,691.60. Following the transaction, the chief executive officer now directly owns 333,689 shares of the company’s stock, valued at approximately $17,001,454.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO David L. Payne sold 10,000 shares of Westamerica Bancorporation stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the completion of the transaction, the chief executive officer now directly owns 268,689 shares in the company, valued at $13,302,792.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David L. Payne sold 8,728 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total value of $444,691.60. Following the completion of the sale, the chief executive officer now directly owns 333,689 shares of the company’s stock, valued at $17,001,454.55. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $2,213,458 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

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.