Maltese Capital Management LLC Sells 38,500 Shares of Westamerica Bancorporation $WABC

Maltese Capital Management LLC reduced its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,000 shares of the financial services provider’s stock after selling 38,500 shares during the quarter. Maltese Capital Management LLC owned about 0.27% of Westamerica Bancorporation worth $3,252,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Westamerica Bancorporation by 354.3% during the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 666 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 valued at $50,000 after buying an additional 351 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of 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 valued at $53,000 after buying an additional 1,093 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of 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 valued at $70,000 after buying an additional 1,447 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Westamerica Bancorporation during the first quarter valued at approximately $96,000. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Stock Performance

WABC opened at $57.64 on Tuesday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 12.84 and a beta of 0.56. The stock’s 50 day moving average price is $54.83 and its 200-day moving average price is $51.81. Westamerica Bancorporation has a one year low of $44.93 and a one year high of $59.00.

Westamerica Bancorporation (NASDAQ:WABC) last released its 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. The firm had revenue of $62.08 million for the quarter, compared to analysts’ expectations of $60.70 million. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.

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 issued a $0.48 dividend. The ex-dividend date was Monday, May 4th. This is a positive change 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 3.3%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 42.76%.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Robert James Baker, Jr. sold 759 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

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.