Jupiter Topco LLC Invests $689,000 in Westamerica Bancorporation $WABC

Jupiter Topco LLC acquired a new stake in Westamerica Bancorporation (NASDAQ:WABC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,748 shares of the financial services provider’s stock, valued at approximately $689,000.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Westamerica Bancorporation by 42.6% in the first quarter. Bessemer Group Inc. now owns 636 shares of the financial services provider’s stock valued at $33,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Westamerica Bancorporation by 354.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 666 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Westamerica Bancorporation in the 2nd quarter worth approximately $44,000. PNC Financial Services Group Inc. lifted its stake in Westamerica Bancorporation by 49.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 351 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Westamerica Bancorporation by 7,286.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of NASDAQ WABC opened at $59.39 on Monday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 13.08 and a beta of 0.56. The stock’s 50-day moving average is $59.34 and its two-hundred day moving average is $55.79. Westamerica Bancorporation has a 1-year low of $44.93 and a 1-year high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. The firm had revenue of $62.77 million for the quarter, compared to analyst estimates of $61.60 million. During the same period in the prior year, the firm earned $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.48 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.2%. Westamerica Bancorporation’s dividend payout ratio is presently 42.29%.

Wall Street Analysts Forecast Growth

WABC has been the subject of several recent research reports. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings cut Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods raised their target price on Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.00.

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.