The Manufacturers Life Insurance Company Sells 6,656 Shares of Westamerica Bancorporation (NASDAQ:WABC)

The Manufacturers Life Insurance Company cut its stake in Westamerica Bancorporation (NASDAQ:WABC) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 257,631 shares of the financial services provider’s stock after selling 6,656 shares during the period. The Manufacturers Life Insurance Company’s holdings in Westamerica Bancorporation were worth $12,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Westamerica Bancorporation by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after purchasing an additional 199,721 shares during the period. Assenagon Asset Management S.A. raised its stake in Westamerica Bancorporation by 54.2% during the third quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider’s stock worth $6,423,000 after buying an additional 45,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Westamerica Bancorporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after buying an additional 41,841 shares during the period. Stieven Capital Advisors L.P. boosted its position in Westamerica Bancorporation by 46.8% during the second 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in Westamerica Bancorporation by 7.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock worth $16,521,000 after acquiring an additional 22,902 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analysts Set New Price Targets

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

Westamerica Bancorporation Stock Down 0.9 %

Westamerica Bancorporation stock opened at $56.70 on Tuesday. The company has a market capitalization of $1.51 billion, a PE ratio of 10.42 and a beta of 0.57. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The firm’s fifty day moving average is $52.61 and its 200 day moving average is $50.82. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share for the quarter, meeting the consensus estimate of $1.27. The firm had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. As a group, sell-side analysts predict that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a $0.44 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.10%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 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.