Westamerica Bancorporation (NASDAQ:WABC) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 8.2% during the third quarter, HoldingsChannel reports. The firm owned 63,634 shares of the financial services provider’s stock after buying an additional 4,841 shares during the period. Raymond James & Associates’ holdings in Westamerica Bancorporation were worth $3,145,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in Westamerica Bancorporation in the second quarter valued at $36,000. EntryPoint Capital LLC purchased a new stake in Westamerica Bancorporation during the first quarter worth about $75,000. GAMMA Investing LLC boosted its holdings in 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 buying an additional 226 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Westamerica Bancorporation during the first quarter worth about $113,000. Finally, SageView Advisory Group LLC acquired a new position in Westamerica Bancorporation during the first quarter worth about $140,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $50.61 on Tuesday. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $58.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.25 and a current ratio of 0.26. The company has a 50 day moving average price of $50.20 and a 200 day moving average price of $49.66. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.22 and a beta of 0.54.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.48%. The ex-dividend date is Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WABC. Piper Sandler lifted their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Maxim Group lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Four 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 a consensus price target of $57.00.

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.