American International Group Inc. boosted its position in Westamerica Bancorporation (NASDAQ:WABC) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,266 shares of the financial services provider’s stock after acquiring an additional 1,092 shares during the period. American International Group Inc. owned about 0.08% of Westamerica Bancorporation worth $1,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Keel Point LLC grew its stake in Westamerica Bancorporation by 0.4% in the 2nd quarter. Keel Point LLC now owns 12,495 shares of the financial services provider’s stock worth $700,000 after acquiring an additional 46 shares during the period. Suntrust Banks Inc. grew its stake in Westamerica Bancorporation by 2.7% in the 2nd quarter. Suntrust Banks Inc. now owns 5,916 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 158 shares during the period. Texas Permanent School Fund grew its stake in Westamerica Bancorporation by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 19,200 shares of the financial services provider’s stock worth $1,076,000 after acquiring an additional 183 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Westamerica Bancorporation by 5.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 340 shares during the period. Finally, Rhumbline Advisers grew its stake in Westamerica Bancorporation by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 58,466 shares of the financial services provider’s stock worth $3,276,000 after acquiring an additional 638 shares during the period. 85.97% of the stock is owned by hedge funds and other institutional investors.

In other news, VP James J. Schneck sold 6,000 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.86, for a total transaction of $353,160.00. Following the completion of the sale, the vice president now directly owns 6,025 shares of the company’s stock, valued at approximately $354,631.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dennis R. Hansen sold 18,400 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.34, for a total transaction of $1,091,856.00. Following the sale, the senior vice president now directly owns 19,421 shares of the company’s stock, valued at $1,152,442.14. The disclosure for this sale can be found here. Insiders have sold a total of 56,868 shares of company stock valued at $3,340,734 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Separately, BidaskClub cut shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th.

Shares of Westamerica Bancorporation (NASDAQ WABC) opened at $60.74 on Friday. Westamerica Bancorporation has a 12 month low of $49.38 and a 12 month high of $64.91. The stock has a market cap of $1,600.26, a price-to-earnings ratio of 26.41 and a beta of 1.07.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%. The company had revenue of $45.22 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 3rd. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. Westamerica Bancorporation’s payout ratio is currently 69.57%.

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Westamerica Bancorporation Company Profile

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

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

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