Westamerica Bancorporation $WABC Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,184,414 shares of the financial services provider’s stock after selling 13,016 shares during the quarter. Vanguard Group Inc. owned about 12.51% of Westamerica Bancorporation worth $159,189,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its position in Westamerica Bancorporation by 9.3% during the second quarter. American Century Companies Inc. now owns 2,019,329 shares of the financial services provider’s stock worth $97,816,000 after acquiring an additional 171,991 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Westamerica Bancorporation by 87.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 309,953 shares of the financial services provider’s stock worth $15,014,000 after purchasing an additional 144,405 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Westamerica Bancorporation in the 3rd quarter valued at about $5,831,000. Qube Research & Technologies Ltd raised its position in shares of Westamerica Bancorporation by 63.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 176,908 shares of the financial services provider’s stock valued at $8,569,000 after purchasing an additional 68,638 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Westamerica Bancorporation by 815.8% during the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 60,102 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of WABC stock opened at $51.23 on Wednesday. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $53.48. The stock’s fifty day simple moving average is $50.45 and its 200 day simple moving average is $49.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.26 and a quick ratio of 0.29. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 11.33 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. The firm had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $61.90 million. On average, analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation declared that its board has authorized a stock buyback plan on Thursday, December 18th that authorizes the company to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 0.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.46 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.6%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 40.71%.

Wall Street Analyst Weigh In

WABC has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods lifted their price target on Westamerica Bancorporation from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westamerica Bancorporation has a consensus rating of “Hold” and a consensus price target of $52.50.

Westamerica Bancorporation Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.