DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Buys 3,972 Shares of Westamerica Bancorporation (NASDAQ:WABC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 77.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,132 shares of the financial services provider’s stock after buying an additional 3,972 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Westamerica Bancorporation were worth $479,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in Westamerica Bancorporation by 2.1% in the 4th quarter. Bank of America Corp DE now owns 86,574 shares of the financial services provider’s stock valued at $4,542,000 after acquiring an additional 1,803 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $439,000. AQR Capital Management LLC increased its position in shares of Westamerica Bancorporation by 10.4% during the fourth quarter. AQR Capital Management LLC now owns 88,309 shares of the financial services provider’s stock valued at $4,633,000 after purchasing an additional 8,297 shares during the period. Northern Trust Corp raised its stake in shares of Westamerica Bancorporation by 17.7% in the fourth quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider’s stock valued at $20,669,000 after purchasing an additional 59,325 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Westamerica Bancorporation in the fourth quarter worth $1,154,000. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $49.84 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The stock has a fifty day moving average price of $48.56 and a two-hundred day moving average price of $51.51. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The firm has a market capitalization of $1.33 billion, a P/E ratio of 9.58 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.07. The business had revenue of $66.71 million for the quarter, compared to analyst estimates of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. As a group, analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.69%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, May 5th. Westamerica Bancorporation’s dividend payout ratio is currently 36.87%.

Analysts Set New Price Targets

WABC has been the topic of several analyst reports. StockNews.com lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Piper Sandler lowered their target price 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating for the company in a research note on Monday, April 21st.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John A. Thorson sold 2,243 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the sale, the senior vice president now owns 11,591 shares of the company’s stock, valued at $562,974.87. The trade was a 16.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Westamerica Bancorporation 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.