Kennedy Capital Management LLC Buys 104,029 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Kennedy Capital Management LLC lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 70.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,177 shares of the financial services provider’s stock after acquiring an additional 104,029 shares during the quarter. Kennedy Capital Management LLC’s holdings in Westamerica Bancorporation were worth $12,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in WABC. Norges Bank bought a new position in shares of Westamerica Bancorporation during the fourth quarter worth about $9,733,000. Leeward Investments LLC MA bought a new stake in Westamerica Bancorporation in the fourth quarter worth approximately $9,515,000. Assenagon Asset Management S.A. increased its holdings in Westamerica Bancorporation by 42.1% in the first quarter. Assenagon Asset Management S.A. now owns 128,124 shares of the financial services provider’s stock worth $6,263,000 after purchasing an additional 37,972 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Westamerica Bancorporation in the fourth quarter worth approximately $1,874,000. Finally, Stieven Capital Advisors L.P. increased its holdings in Westamerica Bancorporation by 43.8% in the first quarter. Stieven Capital Advisors L.P. now owns 76,805 shares of the financial services provider’s stock worth $3,754,000 after purchasing an additional 23,398 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WABC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Maxim Group downgraded Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Piper Sandler lifted their target price on 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 upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Westamerica Bancorporation presently has a consensus rating of “Hold” and an average price target of $57.00.

Westamerica Bancorporation Stock Up 0.1 %

Shares of NASDAQ WABC traded up $0.03 during midday trading on Tuesday, hitting $54.31. 163,951 shares of the stock traded hands, compared to its average volume of 138,779. The company has a market cap of $1.45 billion, a PE ratio of 9.19 and a beta of 0.56. Westamerica Bancorporation has a one year low of $41.89 and a one year high of $58.49. The business has a 50 day moving average price of $49.49 and a two-hundred day moving average price of $48.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.23 and a current ratio of 0.25.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. The company had revenue of $79.57 million for the quarter, compared to analysts’ expectations of $74.28 million. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. On average, equities analysts predict that Westamerica Bancorporation will post 5.2 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.24%. Westamerica Bancorporation’s payout ratio is 29.73%.

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.