Strs Ohio Makes New Investment in Westamerica Bancorporation (NASDAQ:WABC)

Strs Ohio purchased a new stake in Westamerica Bancorporation (NASDAQ:WABC) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,000 shares of the financial services provider’s stock, valued at approximately $112,000.

Several other large investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 355 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Westamerica Bancorporation during the 4th quarter worth $31,000. Equitable Trust Co. increased its position in Westamerica Bancorporation by 7.0% during the 4th quarter. Equitable Trust Co. now owns 9,646 shares of the financial services provider’s stock valued at $544,000 after buying an additional 633 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Westamerica Bancorporation by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 30,587 shares of the financial services provider’s stock valued at $1,323,000 after buying an additional 1,271 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Westamerica Bancorporation by 44.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 1,562 shares in the last quarter. 81.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation 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 transaction of $51,964.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO John A. Thorson sold 1,100 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares of the company’s stock, valued at $193,915.53. The disclosure for this sale can be found here. 4.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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 report on Friday, April 19th. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $57.00 price objective (down from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd.

Westamerica Bancorporation Stock Up 2.4 %

Shares of NASDAQ:WABC opened at $47.67 on Thursday. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 8.05 and a beta of 0.56. The business has a 50-day moving average price of $47.04 and a 200-day moving average price of $49.22.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly 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 business had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. As a group, equities analysts anticipate that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.69%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

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.