Maltese Capital Management LLC Lowers Holdings in Westamerica Bancorporation $WABC

Maltese Capital Management LLC decreased its position in Westamerica Bancorporation (NASDAQ:WABC) by 36.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,000 shares of the financial services provider’s stock after selling 38,500 shares during the period. Maltese Capital Management LLC’s holdings in Westamerica Bancorporation were worth $3,252,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Westamerica Bancorporation by 354.3% in the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 666 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Westamerica Bancorporation by 49.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock worth $50,000 after buying an additional 351 shares during the period. Quadrant Capital Group LLC lifted its holdings in Westamerica Bancorporation by 7,286.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider’s stock worth $53,000 after buying an additional 1,093 shares during the period. Farther Finance Advisors LLC lifted its holdings in Westamerica Bancorporation by 10,335.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the financial services provider’s stock worth $70,000 after buying an additional 1,447 shares during the period. Finally, Strs Ohio purchased a new stake in Westamerica Bancorporation during the first quarter worth $96,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WABC shares. Weiss Ratings upgraded Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price target on Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a “market perform” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Insiders Place Their Bets

In related news, SVP Robert James Baker, Jr. sold 759 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $53.83, for a total value of $40,856.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Westamerica Bancorporation Stock Performance

Shares of WABC opened at $57.64 on Tuesday. The business’s 50-day moving average is $54.83 and its two-hundred day moving average is $51.81. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.84 and a beta of 0.56. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $59.00.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.The company had revenue of $62.08 million for 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. Investors of record on Monday, May 4th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.92 dividend on an annualized basis and a yield of 3.3%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.46. Westamerica Bancorporation’s dividend payout ratio is 42.76%.

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.