Dynamic Technology Lab Private Ltd Makes New Investment in Westamerica Bancorporation (NASDAQ:WABC)

Dynamic Technology Lab Private Ltd acquired a new position in Westamerica Bancorporation (NASDAQ:WABC) in the third quarter, Holdings Channel reports. The fund acquired 17,161 shares of the financial services provider’s stock, valued at approximately $848,000.

Other hedge funds have also recently made changes to their positions in the company. Kimelman & Baird LLC bought a new position in shares of Westamerica Bancorporation during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC increased its position in shares of Westamerica Bancorporation by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 226 shares in the last quarter. CWM LLC lifted its holdings in shares of Westamerica Bancorporation by 16.4% during the 2nd quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 514 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Westamerica Bancorporation by 5.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock valued at $204,000 after buying an additional 221 shares during the last quarter. Finally, Choreo LLC purchased a new position in shares of Westamerica Bancorporation in the 2nd quarter valued at approximately $256,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Westamerica Bancorporation Stock Performance

Shares of WABC opened at $57.54 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a 50-day moving average of $52.21 and a two-hundred day moving average of $50.65. The stock has a market cap of $1.54 billion, a P/E ratio of 10.48 and a beta of 0.54. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, hitting analysts’ consensus estimates of $1.27. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The firm had revenue of $74.07 million during the quarter, compared to the consensus estimate of $72.74 million. As a group, research analysts predict that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.06%. Westamerica Bancorporation’s payout ratio is currently 32.06%.

Westamerica Bancorporation 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.