Dark Forest Capital Management LP Purchases New Position in Westamerica Bancorporation (NASDAQ:WABC)

Dark Forest Capital Management LP acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,971 shares of the financial services provider's stock, valued at approximately $1,153,000. Dark Forest Capital Management LP owned approximately 0.08% of Westamerica Bancorporation as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its holdings in shares of Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 734 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Westamerica Bancorporation in the fourth quarter worth about $65,000. KBC Group NV lifted its position in shares of Westamerica Bancorporation by 71.4% in the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after buying an additional 822 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Westamerica Bancorporation by 14.1% during the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after acquiring an additional 268 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter valued at about $205,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC opened at $47.75 on Thursday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 9.18 and a beta of 0.63. The business has a 50 day moving average price of $48.91 and a 200 day moving average price of $51.58. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The company had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. Research analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research report on Monday. Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a report on Monday.

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.

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