Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Westamerica Bancorporation (NASDAQ:WABCFree Report) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,001 shares of the financial services provider’s stock after selling 11,054 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.10% of Westamerica Bancorporation worth $16,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WABC. Global Retirement Partners LLC acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $31,000. PNC Financial Services Group Inc. boosted its holdings in Westamerica Bancorporation by 27.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 355 shares during the last quarter. GAMMA Investing LLC acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $99,000. Strs Ohio acquired a new position in Westamerica Bancorporation in the 4th quarter valued at about $112,000. Finally, Mutual of America Capital Management LLC acquired a new position in Westamerica Bancorporation in the 3rd quarter valued at about $202,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction that occurred on 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 SEC, which can be accessed through this hyperlink. In related news, SVP George S. Ensinger sold 635 shares of the company’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 transaction of $30,232.35. Following the sale, the senior vice president now directly owns 4,073 shares of the company’s stock, valued at approximately $193,915.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John A. Thorson sold 1,100 shares of the company’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 disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Piper Sandler decreased their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, May 17th.

View Our Latest Report on WABC

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $47.30 on Monday. The company’s 50 day simple moving average is $48.08 and its 200-day simple moving average is $49.48. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.99 and a beta of 0.56. Westamerica Bancorporation has a 1 year low of $38.10 and a 1 year high of $57.96. 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 released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The company had revenue of $78.84 million during the quarter, compared to analysts’ expectations of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. As a group, equities research analysts expect that Westamerica Bancorporation will post 5.3 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

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

Westamerica Bancorporation Company Profile

(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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