Westamerica Bancorporation (NASDAQ:WABC) Stock Holdings Boosted by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in Westamerica Bancorporation (NASDAQ:WABC) by 0.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,492,884 shares of the financial services provider’s stock after buying an additional 4,725 shares during the period. Vanguard Group Inc. owned approximately 13.10% of Westamerica Bancorporation worth $197,034,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Westamerica Bancorporation by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after acquiring an additional 18,297 shares during the period. Leeward Investments LLC MA bought a new position in shares of Westamerica Bancorporation in the fourth quarter valued at $9,515,000. Los Angeles Capital Management LLC lifted its position in shares of Westamerica Bancorporation by 74.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 46,266 shares of the financial services provider’s stock valued at $2,610,000 after acquiring an additional 19,752 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Westamerica Bancorporation by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock worth $44,155,000 after acquiring an additional 21,547 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of Westamerica Bancorporation in the 3rd quarter worth $2,990,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Insider Buying and Selling

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 635 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, the senior vice president now directly owns 4,073 shares in the company, valued at $193,915.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO John A. Thorson sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, the senior vice president now owns 4,073 shares of the company’s stock, valued at $193,915.53. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WABC shares. Piper Sandler cut their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

Westamerica Bancorporation Stock Up 0.8 %

Westamerica Bancorporation stock opened at $48.58 on Wednesday. Westamerica Bancorporation has a twelve month low of $38.10 and a twelve month high of $57.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $1.30 billion, a PE ratio of 8.21 and a beta of 0.56. The firm’s 50 day moving average price is $48.10 and its two-hundred day moving average price is $48.84.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The company had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. On average, research analysts predict that Westamerica Bancorporation will post 5.25 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.62%. Westamerica Bancorporation’s payout ratio is 29.73%.

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.