AF Advisors Inc. Invests $237,000 in Westamerica Bancorporation (NASDAQ:WABC)

AF Advisors Inc. acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,200 shares of the financial services provider’s stock, valued at approximately $237,000. Westamerica Bancorporation comprises about 0.1% of AF Advisors Inc.’s holdings, making the stock its 17th largest holding.

A number of other institutional investors have also modified their holdings of the business. American Century Companies Inc. grew its position in shares of Westamerica Bancorporation by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after buying an additional 206,376 shares during the last quarter. Clifford Capital Partners LLC grew its position in shares of Westamerica Bancorporation by 4.1% during the 3rd quarter. Clifford Capital Partners LLC now owns 313,838 shares of the financial services provider’s stock valued at $13,573,000 after buying an additional 12,316 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Westamerica Bancorporation by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock valued at $12,198,000 after buying an additional 13,758 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Westamerica Bancorporation by 8.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after purchasing an additional 14,206 shares during the period. Finally, Leeward Investments LLC MA acquired a new position in Westamerica Bancorporation during the 4th quarter valued at about $9,515,000. Institutional investors own 81.89% of the company’s stock.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at $193,915.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.61, for a total transaction of $30,232.35. Following the completion of the sale, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at approximately $193,915.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The disclosure for this sale can be found here. Insiders sold 13,007 shares of company stock valued at $609,613 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WABC. StockNews.com lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ:WABC traded up $1.12 during trading on Wednesday, reaching $47.67. The company had a trading volume of 101,123 shares, compared to its average volume of 154,260. The firm’s fifty day moving average is $47.04 and its 200 day moving average is $49.22. The firm has a market capitalization of $1.27 billion, a PE ratio of 8.05 and a beta of 0.56. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 25th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The business had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. Equities analysts predict that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 3rd. Westamerica Bancorporation’s dividend payout ratio is 29.73%.

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.