Geode Capital Management LLC Acquires 28,902 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Geode Capital Management LLC raised its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 735,439 shares of the financial services provider’s stock after acquiring an additional 28,902 shares during the quarter. Geode Capital Management LLC’s holdings in Westamerica Bancorporation were worth $36,352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WABC. Intech Investment Management LLC lifted its stake in shares of Westamerica Bancorporation by 2.8% during the 3rd quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 191 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in Westamerica Bancorporation by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 200 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Westamerica Bancorporation by 0.7% during the third quarter. Martingale Asset Management L P now owns 27,008 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 200 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Westamerica Bancorporation by 0.5% in the 2nd quarter. Algert Global LLC now owns 64,365 shares of the financial services provider’s stock valued at $3,124,000 after buying an additional 304 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new position in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $36,000. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.4 %

Westamerica Bancorporation stock opened at $52.54 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 market cap of $1.40 billion, a PE ratio of 9.57 and a beta of 0.57. The stock has a 50-day moving average of $54.85 and a two-hundred day moving average of $51.63. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $59.97.

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

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a dividend yield of 3.35%. Westamerica Bancorporation’s payout ratio is currently 32.06%.

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 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.