SAM Advisors LLC Invests $336,000 in Westamerica Bancorporation (NASDAQ:WABC)

SAM Advisors LLC acquired a new position in Westamerica Bancorporation (NASDAQ:WABC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,794 shares of the financial services provider’s stock, valued at approximately $336,000.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. increased its holdings in Westamerica Bancorporation by 11.7% during the second quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after buying an additional 199,721 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of 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 worth $12,326,000 after acquiring an additional 104,029 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 worth $6,423,000 after acquiring an additional 45,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Westamerica Bancorporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock worth $41,801,000 after acquiring an additional 41,841 shares during the last quarter. Finally, Stieven Capital Advisors L.P. lifted its holdings in shares of Westamerica Bancorporation by 46.8% in the second quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock worth $5,470,000 after acquiring an additional 35,912 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $57.13 on Thursday. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.33. The business’s fifty day moving average is $50.91 and its 200 day moving average is $50.13. The company has a quick ratio of 0.25, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.52 billion, a P/E ratio of 10.41 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The company had revenue of $74.07 million for the quarter, compared to analysts’ expectations of $72.74 million. Sell-side analysts anticipate that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is currently 32.06%.

Wall Street Analysts Forecast Growth

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

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.