Ieq Capital LLC Acquires New Position in Westamerica Bancorporation (NASDAQ:WABC)

Ieq Capital LLC acquired a new stake in Westamerica Bancorporation (NASDAQ:WABC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,056 shares of the financial services provider’s stock, valued at approximately $370,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Westamerica Bancorporation by 58.5% during the 3rd quarter. Victory Capital Management Inc. now owns 34,428 shares of the financial services provider’s stock valued at $1,701,000 after buying an additional 12,702 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Westamerica Bancorporation during the third quarter valued at $848,000. Thrivent Financial for Lutherans lifted its holdings in Westamerica Bancorporation by 23.2% in the third quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock valued at $3,064,000 after acquiring an additional 11,674 shares during the period. Geode Capital Management LLC lifted its holdings in Westamerica Bancorporation by 4.1% in the third quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock valued at $36,352,000 after acquiring an additional 28,902 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Westamerica Bancorporation in the fourth quarter worth about $245,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $51.62 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.38 billion, a P/E ratio of 9.93 and a beta of 0.57. The company has a 50-day moving average price of $51.23 and a 200-day moving average price of $51.94. Westamerica Bancorporation has a 52 week low of $44.79 and a 52 week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. During the same period in the prior year, the firm earned $1.48 EPS. Equities research analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, February 3rd. Westamerica Bancorporation’s payout ratio is 33.85%.

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.