Texas Permanent School Fund Corp trimmed its position in Westamerica Bancorporation (NASDAQ:WABC – Free Report) by 17.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,514 shares of the financial services provider’s stock after selling 4,432 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Westamerica Bancorporation worth $824,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of WABC. CWM LLC grew its stake in shares of Westamerica Bancorporation by 247.9% during the second quarter. CWM LLC now owns 1,061 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 756 shares during the period. Money Concepts Capital Corp acquired a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $70,000. Captrust Financial Advisors grew its stake in shares of Westamerica Bancorporation by 123.9% during the first quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 856 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Westamerica Bancorporation during the second quarter worth $115,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Westamerica Bancorporation during the third quarter worth $147,000. 75.11% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on Westamerica Bancorporation in a research note on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler lifted their price objective on 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 Trading Down 0.5 %
NASDAQ:WABC opened at $49.95 on Tuesday. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $62.74. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 8.27 and a beta of 0.61. The stock has a 50-day moving average price of $45.42 and a two-hundred day moving average price of $43.64.
Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last posted its earnings results on Thursday, October 19th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Westamerica Bancorporation had a return on equity of 25.17% and a net margin of 49.71%. The firm had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $79.84 million. Sell-side analysts forecast that Westamerica Bancorporation will post 6.04 earnings per share for the current year.
Westamerica Bancorporation Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.52%. Westamerica Bancorporation’s payout ratio is 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.
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