Stewart & Patten Co. LLC reduced its stake in Westamerica Bancorporation (NASDAQ:WABC) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 4,400 shares of the financial services provider’s stock after selling 200 shares during the quarter. Stewart & Patten Co. LLC’s holdings in Westamerica Bancorporation were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue increased its holdings in Westamerica Bancorporation by 126.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 20,731 shares of the financial services provider’s stock valued at $1,289,000 after purchasing an additional 11,577 shares in the last quarter. BlackRock Inc. grew its stake in shares of Westamerica Bancorporation by 1.2% during the second quarter. BlackRock Inc. now owns 3,944,296 shares of the financial services provider’s stock valued at $243,007,000 after acquiring an additional 46,838 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Westamerica Bancorporation during the second quarter valued at about $6,703,000. Price T Rowe Associates Inc. MD grew its stake in shares of Westamerica Bancorporation by 4.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,752,752 shares of the financial services provider’s stock valued at $169,597,000 after acquiring an additional 114,439 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Westamerica Bancorporation by 26.6% during the second quarter. UBS Asset Management Americas Inc. now owns 24,963 shares of the financial services provider’s stock valued at $1,538,000 after acquiring an additional 5,247 shares in the last quarter. Hedge funds and other institutional investors own 82.20% of the company’s stock.

Shares of Westamerica Bancorporation stock traded up $0.55 during trading hours on Thursday, hitting $62.83. 2,958 shares of the company’s stock traded hands, compared to its average volume of 90,126. The stock has a 50 day simple moving average of $62.31 and a 200-day simple moving average of $62.12. The company has a market cap of $1.68 billion, a PE ratio of 22.17 and a beta of 0.98. Westamerica Bancorporation has a twelve month low of $52.05 and a twelve month high of $65.39.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $51.43 million during the quarter. Westamerica Bancorporation had a return on equity of 11.78% and a net margin of 37.08%.

Several brokerages have recently weighed in on WABC. BidaskClub downgraded Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a research note on Friday, July 19th.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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