Price T Rowe Associates Inc. MD Sells 24,591 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Price T Rowe Associates Inc. MD trimmed its stake in Westamerica Bancorporation (NASDAQ:WABC) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,986 shares of the financial services provider’s stock after selling 24,591 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of Westamerica Bancorporation worth $1,049,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Westamerica Bancorporation in the 4th quarter worth about $3,647,000. Norges Bank bought a new stake in Westamerica Bancorporation during the fourth quarter worth about $3,564,000. JPMorgan Chase & Co. increased its holdings in shares of Westamerica Bancorporation by 74.7% during the fourth quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider’s stock worth $7,467,000 after buying an additional 60,871 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $1,865,000. Finally, Vanguard Group Inc. raised its stake in shares of Westamerica Bancorporation by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider’s stock valued at $183,898,000 after acquiring an additional 34,762 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 710 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John A. Thorson sold 2,243 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WABC shares. Keefe, Bruyette & Woods dropped their price target on Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Piper Sandler lowered their target price on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Monday, May 5th.

Westamerica Bancorporation Stock Down 0.2 %

NASDAQ:WABC opened at $49.84 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 9.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The stock’s fifty day moving average price is $48.56 and its two-hundred day moving average price is $51.52. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97.

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

Westamerica Bancorporation Increases Dividend

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

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.