Choreo LLC Takes Position in Westamerica Bancorporation (NASDAQ:WABC)

Choreo LLC acquired a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,306 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Westamerica Bancorporation by 4.0% during the 2nd quarter. Victory Capital Management Inc. now owns 21,726 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 837 shares during the last quarter. Stieven Capital Advisors L.P. raised its holdings in Westamerica Bancorporation by 46.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock valued at $5,470,000 after acquiring an additional 35,912 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Westamerica Bancorporation by 10.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 37,391 shares of the financial services provider’s stock valued at $1,815,000 after acquiring an additional 3,487 shares during the last quarter. IFG Advisory LLC raised its holdings in Westamerica Bancorporation by 9.0% in the 2nd quarter. IFG Advisory LLC now owns 42,097 shares of the financial services provider’s stock valued at $2,043,000 after acquiring an additional 3,461 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Westamerica Bancorporation by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 200 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Down 0.1 %

Shares of Westamerica Bancorporation stock opened at $50.63 on Thursday. The company has a fifty day moving average price of $51.36 and a 200 day moving average price of $49.03. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. Westamerica Bancorporation has a twelve month low of $41.89 and a twelve month high of $58.49. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 8.55 and a beta of 0.55.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. Westamerica Bancorporation had a net margin of 47.12% and a return on equity of 20.17%. The firm had revenue of $79.57 million for the quarter, compared to analyst estimates of $74.28 million. Equities research analysts forecast that Westamerica Bancorporation will post 5.2 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.48%. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Maxim Group downgraded Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Piper Sandler boosted their price objective on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Westamerica Bancorporation currently has an average rating of “Hold” and an average price target of $57.00.

About Westamerica Bancorporation

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.