Sequoia Financial Advisors LLC Sells 356 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Sequoia Financial Advisors LLC reduced its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,214 shares of the financial services provider’s stock after selling 356 shares during the period. Sequoia Financial Advisors LLC’s holdings in Westamerica Bancorporation were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WABC. BlackRock Inc. lifted its stake in shares of Westamerica Bancorporation by 4.7% in the first quarter. BlackRock Inc. now owns 3,982,861 shares of the financial services provider’s stock valued at $176,441,000 after buying an additional 179,782 shares during the period. Vanguard Group Inc. grew its holdings in shares of Westamerica Bancorporation by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,218,835 shares of the financial services provider’s stock worth $168,312,000 after purchasing an additional 43,011 shares in the last quarter. State Street Corp increased its position in shares of Westamerica Bancorporation by 7.6% during the second quarter. State Street Corp now owns 1,334,460 shares of the financial services provider’s stock valued at $51,110,000 after purchasing an additional 93,807 shares during the period. American Century Companies Inc. raised its stake in shares of Westamerica Bancorporation by 20.8% in the third quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 206,376 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Westamerica Bancorporation by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 726,422 shares of the financial services provider’s stock valued at $32,180,000 after purchasing an additional 40,598 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $46.78 on Friday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 7.90 and a beta of 0.56. The stock has a fifty day moving average price of $46.87 and a two-hundred day moving average price of $48.98. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). The firm had revenue of $78.84 million during the quarter, compared to the consensus estimate of $77.34 million. Westamerica Bancorporation had a return on equity of 22.79% and a net margin of 48.35%. On average, equities research analysts predict that Westamerica Bancorporation will post 5.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s payout ratio is 29.73%.

Analyst Upgrades and Downgrades

WABC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 19th. StockNews.com lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Piper Sandler dropped their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday.

Insider Activity

In related news, CEO David L. Payne sold 8,728 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total transaction of $444,691.60. Following the sale, the chief executive officer now directly owns 333,689 shares in the company, valued at approximately $17,001,454.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Westamerica Bancorporation news, CEO David L. Payne sold 8,728 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total value of $444,691.60. Following the transaction, the chief executive officer now owns 333,689 shares of the company’s stock, valued at $17,001,454.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David L. Payne sold 10,000 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the sale, the chief executive officer now owns 268,689 shares in the company, valued at approximately $13,302,792.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,000 shares of company stock worth $2,213,458. Insiders own 4.40% of the company’s stock.

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.