Leeward Investments LLC MA Sells 7,001 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Leeward Investments LLC MA decreased its position in Westamerica Bancorporation (NASDAQ:WABC) by 4.2% during the first quarter, HoldingsChannel reports. The firm owned 161,674 shares of the financial services provider’s stock after selling 7,001 shares during the quarter. Leeward Investments LLC MA’s holdings in Westamerica Bancorporation were worth $7,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WABC. American Century Companies Inc. boosted its holdings in Westamerica Bancorporation by 20.8% during the third quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 206,376 shares during the period. Norges Bank bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $9,733,000. Kennedy Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation in the third quarter worth $2,990,000. Hsbc Holdings PLC bought a new position in Westamerica Bancorporation during the fourth quarter worth $1,874,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Westamerica Bancorporation by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after purchasing an additional 21,547 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Westamerica Bancorporation

In other news, CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the transaction, the senior vice president now directly owns 4,073 shares in the company, valued at $193,915.53. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

WABC has been the subject of several research reports. Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Finally, StockNews.com lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Friday, June 28th.

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock traded down $0.41 during trading on Friday, hitting $48.17. 66,433 shares of the company’s stock traded hands, compared to its average volume of 115,439. The company has a market cap of $1.29 billion, a PE ratio of 8.14 and a beta of 0.56. The firm’s fifty day moving average price is $48.12 and its 200 day moving average price is $48.83. Westamerica Bancorporation has a twelve month low of $38.10 and a twelve month high of $57.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.23 and a quick ratio of 0.23.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. Analysts forecast that Westamerica Bancorporation will post 5.25 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.76 annualized dividend and a yield of 3.65%. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

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.