SG Americas Securities LLC Acquires 12,672 Shares of Westamerica Bancorporation $WABC

SG Americas Securities LLC grew its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 39.0% in the 1st quarter, HoldingsChannel reports. The firm owned 45,171 shares of the financial services provider’s stock after acquiring an additional 12,672 shares during the quarter. SG Americas Securities LLC’s holdings in Westamerica Bancorporation were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Westamerica Bancorporation by 43.9% during the third quarter. JPMorgan Chase & Co. now owns 98,266 shares of the financial services provider’s stock worth $4,912,000 after buying an additional 29,964 shares during the last quarter. UBS Group AG boosted its stake in Westamerica Bancorporation by 279.4% in the fourth quarter. UBS Group AG now owns 457,206 shares of the financial services provider’s stock valued at $21,868,000 after acquiring an additional 336,714 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Westamerica Bancorporation by 92.1% during the 4th quarter. WINTON GROUP Ltd now owns 46,347 shares of the financial services provider’s stock valued at $2,217,000 after acquiring an additional 22,224 shares during the period. BNP Paribas Financial Markets grew its position in shares of Westamerica Bancorporation by 43.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 28,028 shares of the financial services provider’s stock valued at $1,401,000 after acquiring an additional 8,466 shares during the period. Finally, US Bancorp DE increased its stake in shares of Westamerica Bancorporation by 6.3% during the 3rd quarter. US Bancorp DE now owns 4,918 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 290 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Stock Up 2.4%

NASDAQ WABC opened at $60.08 on Thursday. The company’s 50 day moving average is $56.07 and its 200-day moving average is $52.68. Westamerica Bancorporation has a 12-month low of $44.93 and a 12-month high of $60.27. The firm has a market cap of $1.41 billion, a P/E ratio of 13.38 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The company had revenue of $62.08 million during the quarter, compared to the consensus estimate of $60.70 million.

Westamerica Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.2%. Westamerica Bancorporation’s dividend payout ratio is 42.76%.

Analysts Set New Price Targets

WABC has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday, April 17th. Weiss Ratings upgraded Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 759 shares of Westamerica Bancorporation stock in a transaction on Monday, April 20th. The stock was sold at an average price of $53.83, for a total value of $40,856.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.