Jefferies Financial Group Inc. Makes New Investment in Westamerica Bancorporation (NASDAQ:WABC)

Jefferies Financial Group Inc. bought a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,250 shares of the financial services provider’s stock, valued at approximately $643,000.

A number of other large investors have also recently added to or reduced their stakes in WABC. Sterling Capital Management LLC increased its holdings in Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 734 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Westamerica Bancorporation during the 4th quarter worth about $65,000. KBC Group NV increased its holdings in Westamerica Bancorporation by 71.4% during the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 822 shares in the last quarter. Two Sigma Securities LLC bought a new position in Westamerica Bancorporation during the 4th quarter worth about $201,000. Finally, Gallacher Capital Management LLC bought a new position in Westamerica Bancorporation during the 4th quarter worth about $205,000. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of NASDAQ WABC opened at $50.60 on Friday. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.73 and a beta of 0.64. The business has a 50-day moving average of $48.58 and a 200-day moving average of $51.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26.

Westamerica Bancorporation (NASDAQ:WABC) last issued its 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. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The business had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. As a group, sell-side analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were paid a $0.46 dividend. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.44. This represents a $1.84 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, May 5th. Westamerica Bancorporation’s dividend payout ratio (DPR) is 36.87%.

Insider Activity at Westamerica Bancorporation

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $48.57, for a total transaction of $108,942.51. Following the completion of the sale, the senior vice president now directly owns 11,591 shares in the company, valued at $562,974.87. This trade represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert James Baker, Jr. sold 710 shares of Westamerica Bancorporation stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WABC shares. Keefe, Bruyette & Woods decreased their price objective 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. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler decreased their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 21st.

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.