Renaissance Technologies LLC Invests $1.30 Million in Westamerica Bancorporation (NASDAQ:WABC)

Renaissance Technologies LLC purchased a new position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,831 shares of the financial services provider's stock, valued at approximately $1,303,000. Renaissance Technologies LLC owned about 0.09% of Westamerica Bancorporation as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter worth $65,000. KBC Group NV lifted its holdings in Westamerica Bancorporation by 71.4% during the 4th 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 position 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. Gallacher Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the 4th quarter valued at about $205,000. Finally, One Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $210,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on WABC. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Piper Sandler cut their price target on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st.

Insider Activity at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 710 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $48.16, for a total value of $34,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.30% of the stock is currently owned by insiders.

Westamerica Bancorporation Price Performance

Shares of NASDAQ WABC opened at $48.62 on Tuesday. The stock has a 50 day moving average of $48.81 and a two-hundred day moving average of $51.65. The stock has a market cap of $1.30 billion, a P/E ratio of 9.35 and a beta of 0.63. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.

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

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be paid a $0.46 dividend. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, May 5th. Westamerica Bancorporation's dividend payout ratio (DPR) is 35.27%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.