Westamerica Bancorporation (NASDAQ:WABC) Stake Cut by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 14.9% in the 3rd quarter, Holdings Channel reports. The firm owned 13,119 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Franklin Resources Inc.’s holdings in Westamerica Bancorporation were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kimelman & Baird LLC acquired a new position in shares of Westamerica Bancorporation in the 2nd quarter valued at about $36,000. Glenmede Trust Co. NA acquired a new position in Westamerica Bancorporation in the third quarter valued at approximately $238,000. Choreo LLC bought a new position in shares of Westamerica Bancorporation during the second quarter valued at approximately $256,000. CWM LLC raised its position in shares of Westamerica Bancorporation by 43.9% during the 3rd quarter. CWM LLC now owns 5,250 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 1,601 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $332,000. 81.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $52.55 on Tuesday. The company has a 50-day moving average price of $54.89 and a two-hundred day moving average price of $51.75. Westamerica Bancorporation has a 52 week low of $43.82 and a 52 week high of $59.97. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 9.57 and a beta of 0.57. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The business had revenue of $74.07 million during the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. Analysts forecast that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

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

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.