Connor Clark & Lunn Investment Management Ltd. Has $2 Million Stake in Westamerica Bancorporation (NASDAQ:WABC)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 64.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,114 shares of the financial services provider’s stock after acquiring an additional 14,977 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Westamerica Bancorporation were worth $1,999,000 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. Victory Capital Management Inc. increased its stake in Westamerica Bancorporation by 58.5% in the third quarter. Victory Capital Management Inc. now owns 34,428 shares of the financial services provider’s stock valued at $1,701,000 after acquiring an additional 12,702 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Westamerica Bancorporation in the third quarter valued at about $848,000. Thrivent Financial for Lutherans increased its stake in Westamerica Bancorporation by 23.2% in the third quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock valued at $3,064,000 after acquiring an additional 11,674 shares during the period. Geode Capital Management LLC increased its stake in Westamerica Bancorporation by 4.1% in the third quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock valued at $36,352,000 after acquiring an additional 28,902 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Westamerica Bancorporation by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider’s stock valued at $7,600,000 after acquiring an additional 5,368 shares during the period. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $51.04 on Wednesday. The stock has a market cap of $1.36 billion, a P/E ratio of 9.82 and a beta of 0.55. The company’s 50-day simple moving average is $50.84 and its 200 day simple moving average is $52.01. Westamerica Bancorporation has a twelve month low of $45.11 and a twelve month high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. During the same period last year, the firm earned $1.48 EPS. As a group, research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.45%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 33.85%.

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.