Arizona State Retirement System Lowers Stake in Westamerica Bancorporation (NASDAQ:WABC)

Arizona State Retirement System reduced its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,561 shares of the financial services provider’s stock after selling 237 shares during the quarter. Arizona State Retirement System’s holdings in Westamerica Bancorporation were worth $290,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WABC. Money Concepts Capital Corp purchased a new stake in Westamerica Bancorporation in the fourth quarter worth about $70,000. Captrust Financial Advisors lifted its stake in Westamerica Bancorporation by 123.9% in the first quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 856 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Westamerica Bancorporation in the second quarter worth about $115,000. Ensign Peak Advisors Inc purchased a new stake in Westamerica Bancorporation in the third quarter worth about $147,000. Finally, Quantbot Technologies LP purchased a new stake in Westamerica Bancorporation in the second quarter worth about $203,000. 75.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WABC has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Westamerica Bancorporation in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler upped their price objective on shares of Westamerica Bancorporation from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th.

Westamerica Bancorporation Stock Performance

Shares of Westamerica Bancorporation stock opened at $47.13 on Thursday. The company has a market capitalization of $1.26 billion, a PE ratio of 7.80 and a beta of 0.61. The company has a 50-day simple moving average of $44.63 and a two-hundred day simple moving average of $43.07. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $63.86.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be issued a $0.44 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.73%. Westamerica Bancorporation’s dividend payout ratio is presently 29.14%.

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.