Hsbc Holdings PLC Acquires New Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Hsbc Holdings PLC bought a new position in Westamerica Bancorporation (NASDAQ:WABCFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,998 shares of the financial services provider’s stock, valued at approximately $1,874,000. Hsbc Holdings PLC owned 0.12% of Westamerica Bancorporation at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Westamerica Bancorporation by 20.8% during 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 acquiring an additional 206,376 shares during the last quarter. Norges Bank purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at about $9,733,000. Leeward Investments LLC MA bought a new position in shares of Westamerica Bancorporation in the 4th quarter worth approximately $9,515,000. Kennedy Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the third quarter worth approximately $2,990,000. Finally, Dimensional Fund Advisors LP grew its position in Westamerica Bancorporation by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after buying an additional 21,547 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Down 1.2 %

Shares of WABC stock opened at $47.30 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.23 and a quick ratio of 0.23. Westamerica Bancorporation has a one year low of $38.10 and a one year high of $57.96. The company’s fifty day moving average price is $48.11 and its 200-day moving average price is $49.49. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.98 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The business had revenue of $78.84 million for the quarter, compared to the consensus estimate of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. Sell-side analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were paid a $0.44 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.76 annualized dividend and a yield of 3.72%. Westamerica Bancorporation’s payout ratio is 29.73%.

Analyst Ratings Changes

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

Read Our Latest Report on WABC

Insider Buying and Selling at Westamerica Bancorporation

In other news, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares of the company’s stock, valued at $193,915.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP George S. Ensinger sold 635 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, 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 4.40% of the company’s stock.

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.

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

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