T. Rowe Price Investment Management Inc. Sells 88,892 Shares of Westamerica Bancorporation (NASDAQ:WABC)

T. Rowe Price Investment Management Inc. decreased its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 18.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,932 shares of the financial services provider's stock after selling 88,892 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.47% of Westamerica Bancorporation worth $20,561,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in shares of Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after buying an additional 734 shares during the period. Golden State Wealth Management LLC acquired a new position in Westamerica Bancorporation in the fourth quarter valued at about $65,000. KBC Group NV increased its holdings 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 acquiring an additional 822 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Westamerica Bancorporation by 14.1% during the fourth quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after purchasing an additional 268 shares during the period. Finally, Gallacher Capital Management LLC bought a new position in shares of Westamerica Bancorporation during the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Westamerica Bancorporation Trading Down 0.4 %

NASDAQ WABC opened at $48.23 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.28 and a beta of 0.63. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The stock's 50 day moving average price is $48.84 and its two-hundred day moving average price is $51.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $66.47 million. As a group, analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a $0.46 dividend. The ex-dividend date is Monday, May 5th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.82%. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's payout ratio is currently 35.27%.

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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