Versor Investments LP Makes New $642,000 Investment in Westamerica Bancorporation (NASDAQ:WABC)

Versor Investments LP bought a new position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,000 shares of the financial services provider's stock, valued at approximately $642,000.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Westamerica Bancorporation by 21.7% during the first quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider's stock worth $5,936,000 after buying an additional 21,624 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Westamerica Bancorporation by 124.0% in the 1st quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider's stock worth $1,301,000 after purchasing an additional 14,738 shares in the last quarter. Kennedy Capital Management LLC raised its position in Westamerica Bancorporation by 70.2% in the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider's stock valued at $12,326,000 after purchasing an additional 104,029 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Westamerica Bancorporation during the first quarter worth about $258,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Westamerica Bancorporation by 54.2% in the third quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider's stock valued at $6,423,000 after buying an additional 45,708 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WABC has been the topic of a number of research reports. Maxim Group lowered shares of Westamerica Bancorporation from a "buy" rating to a "hold" rating in a report on Monday, July 22nd. Piper Sandler raised their price target on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a "neutral" rating in a report on Friday, July 19th. Finally, StockNews.com raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Westamerica Bancorporation presently has a consensus rating of "Hold" and an average price target of $57.00.

Westamerica Bancorporation Trading Down 0.5 %

WABC stock traded down $0.27 during mid-day trading on Thursday, reaching $56.86. The company's stock had a trading volume of 96,728 shares, compared to its average volume of 130,973. Westamerica Bancorporation has a 12 month low of $43.82 and a 12 month high of $59.33. The company has a current ratio of 0.26, a quick ratio of 0.25 and a debt-to-equity ratio of 0.15. The business's 50 day moving average price is $51.05 and its 200 day moving average price is $50.18. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 10.36 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.27. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. The business had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. On average, equities research analysts predict that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, November 4th. Westamerica Bancorporation's dividend payout ratio (DPR) is 32.06%.

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.