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

SG Americas Securities LLC grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 39.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,171 shares of the financial services provider’s stock after purchasing an additional 12,672 shares during the period. SG Americas Securities LLC owned approximately 0.19% of Westamerica Bancorporation worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Westamerica Bancorporation by 19.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,171 shares of the financial services provider’s stock valued at $56,000 after buying an additional 194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Westamerica Bancorporation by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,725 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 201 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Westamerica Bancorporation by 0.7% in the second quarter. CANADA LIFE ASSURANCE Co now owns 32,377 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 213 shares during the period. Royal Bank of Canada increased its holdings in shares of Westamerica Bancorporation by 1.7% during the fourth quarter. Royal Bank of Canada now owns 14,761 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 241 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Westamerica Bancorporation by 6.3% during the third 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 period. Institutional investors own 81.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on WABC shares. Keefe, Bruyette & Woods boosted their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, April 17th. Weiss Ratings raised shares of Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Westamerica Bancorporation Stock Up 2.4%

WABC stock opened at $60.08 on Thursday. The firm has a market capitalization of $1.41 billion, a PE ratio of 13.38 and a beta of 0.56. Westamerica Bancorporation has a twelve month low of $44.93 and a twelve month high of $60.27. The stock’s 50 day moving average is $56.07 and its 200-day moving average is $52.68.

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

Westamerica Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.48 per share. 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 payout ratio is 42.76%.

Insider Buying and Selling at Westamerica Bancorporation

In related news, SVP Robert James Baker, Jr. sold 759 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Westamerica Bancorporation 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.