Leeward Investments LLC MA Invests $9.52 Million in Westamerica Bancorporation (NASDAQ:WABC)

Leeward Investments LLC MA acquired a new position in Westamerica Bancorporation (NASDAQ:WABC) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 168,675 shares of the financial services provider’s stock, valued at approximately $9,515,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WABC. Global Retirement Partners LLC acquired a new position in shares of Westamerica Bancorporation in the fourth quarter worth about $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after buying an additional 355 shares during the period. GAMMA Investing LLC acquired a new position in shares of Westamerica Bancorporation in the fourth quarter worth about $99,000. Strs Ohio acquired a new position in shares of Westamerica Bancorporation in the fourth quarter worth about $112,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Westamerica Bancorporation in the third quarter worth about $202,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of WABC stock traded up $0.23 during trading on Friday, hitting $47.44. 151,506 shares of the company were exchanged, compared to its average volume of 156,636. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.01 and a beta of 0.56. The business’s 50-day simple moving average is $47.02 and its 200 day simple moving average is $49.11. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly 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). The company had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. On average, equities analysts forecast that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on WABC. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 price target (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday. Finally, Piper Sandler decreased their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, April 19th.

Insider Buying and Selling

In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Westamerica Bancorporation news, CEO David L. Payne sold 10,000 shares of Westamerica Bancorporation stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total value of $495,100.00. Following the completion of the sale, the chief executive officer now directly owns 268,689 shares in the company, valued at $13,302,792.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,372 shares of company stock worth $1,074,481. 4.40% of the stock is owned by company insiders.

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.