Westamerica Bancorporation $WABC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 235,108 shares of the financial services provider’s stock after selling 1,927 shares during the quarter. Bank of New York Mellon Corp’s holdings in Westamerica Bancorporation were worth $11,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WABC. IFG Advisory LLC raised its holdings in shares of Westamerica Bancorporation by 1.7% in the 2nd quarter. IFG Advisory LLC now owns 47,240 shares of the financial services provider’s stock valued at $2,288,000 after buying an additional 796 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Westamerica Bancorporation in the 2nd quarter valued at about $737,000. AlphaQuest LLC increased its stake in Westamerica Bancorporation by 209.9% during the second quarter. AlphaQuest LLC now owns 30,841 shares of the financial services provider’s stock worth $1,494,000 after purchasing an additional 20,889 shares during the period. Denali Advisors LLC lifted its position in shares of Westamerica Bancorporation by 505.1% during the second quarter. Denali Advisors LLC now owns 107,152 shares of the financial services provider’s stock worth $5,190,000 after purchasing an additional 89,444 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Westamerica Bancorporation by 35.8% in the second quarter. D.A. Davidson & CO. now owns 9,366 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 2,471 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Up 0.4%

Shares of Westamerica Bancorporation stock opened at $46.60 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.14. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The company has a market capitalization of $1.16 billion, a P/E ratio of 10.15 and a beta of 0.61. The company has a 50 day moving average of $48.00 and a 200 day moving average of $48.71.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $63.20 million during the quarter, compared to analysts’ expectations of $64.20 million. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. As a group, research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, November 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 40.09%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WABC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, October 8th. Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Westamerica Bancorporation presently has a consensus rating of “Hold” and an average price target of $52.00.

Westamerica Bancorporation Profile

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.