WINTON GROUP Ltd Acquires 22,224 Shares of Westamerica Bancorporation $WABC

WINTON GROUP Ltd grew its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 92.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,347 shares of the financial services provider’s stock after purchasing an additional 22,224 shares during the period. WINTON GROUP Ltd owned about 0.19% of Westamerica Bancorporation worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Westamerica Bancorporation by 201.1% during the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 561 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Westamerica Bancorporation by 354.3% during the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 666 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Westamerica Bancorporation by 49.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 351 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Westamerica Bancorporation by 10,335.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Strs Ohio bought a new stake in Westamerica Bancorporation during the first quarter worth about $96,000. Institutional investors own 81.89% of the company’s stock.

Insider Buying and Selling at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 759 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $53.83, for a total value of $40,856.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $56.58 on Monday. Westamerica Bancorporation has a 1-year low of $44.93 and a 1-year high of $57.00. The stock has a 50-day moving average of $54.16 and a 200-day moving average of $51.39. The firm has a market cap of $1.33 billion, a PE ratio of 12.60 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.The company had revenue of $62.08 million during the quarter, compared to analyst estimates of $60.70 million.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $0.48 dividend. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.4%. Westamerica Bancorporation’s dividend payout ratio is presently 42.76%.

Analysts Set New Price Targets

WABC has been the subject of several research analyst reports. Weiss Ratings raised Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price target on Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a “market perform” rating in a research note on Friday, April 17th. Finally, Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Westamerica Bancorporation Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.