172,533 Shares in Westamerica Bancorporation (NASDAQ:WABC) Bought by Norges Bank

Norges Bank bought a new position in shares of Westamerica Bancorporation (NASDAQ:WABCFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 172,533 shares of the financial services provider’s stock, valued at approximately $9,733,000. Norges Bank owned approximately 0.65% of Westamerica Bancorporation at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WABC. Victory Capital Management Inc. grew its stake in shares of Westamerica Bancorporation by 24.5% during the third quarter. Victory Capital Management Inc. now owns 16,671 shares of the financial services provider’s stock worth $721,000 after purchasing an additional 3,277 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Westamerica Bancorporation by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock worth $12,198,000 after purchasing an additional 13,758 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Westamerica Bancorporation by 8.3% during the third quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock worth $8,060,000 after purchasing an additional 14,206 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Westamerica Bancorporation during the third quarter worth $202,000. Finally, Deutsche Bank AG grew its stake in shares of Westamerica Bancorporation by 15.5% during the third quarter. Deutsche Bank AG now owns 12,706 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 1,703 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Wall Street Analysts Forecast Growth

WABC has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd.

View Our Latest Stock Analysis on WABC

Insider Transactions at Westamerica Bancorporation

In other news, CFO John A. Thorson sold 1,100 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO John A. Thorson sold 1,100 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George S. Ensinger sold 635 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.61, for a total transaction of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at $193,915.53. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $47.48 on Thursday. Westamerica Bancorporation has a fifty-two week low of $38.10 and a fifty-two week high of $57.96. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.02 and a beta of 0.56. The firm has a 50-day simple moving average of $48.15 and a 200-day simple moving average of $49.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.23 and a current ratio of 0.23.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The business had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. On average, equities research analysts anticipate that Westamerica Bancorporation will post 5.3 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.71%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 29.73%.

About Westamerica Bancorporation

(Free Report)

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.

Further Reading

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

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