Commonwealth Equity Services LLC Buys 4,328 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Commonwealth Equity Services LLC boosted its stake in Westamerica Bancorporation (NASDAQ:WABCFree Report) by 14.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,904 shares of the financial services provider’s stock after purchasing an additional 4,328 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.13% of Westamerica Bancorporation worth $1,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. boosted its stake in Westamerica Bancorporation by 27.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after buying an additional 355 shares during the period. GAMMA Investing LLC purchased a new position in shares of Westamerica Bancorporation during the fourth quarter worth about $99,000. Strs Ohio bought a new stake in shares of Westamerica Bancorporation during the 4th quarter worth $112,000. Finally, CWM LLC grew its position in Westamerica Bancorporation by 248.3% in the first quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 2,235 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

WABC has been the topic of a number of research reports. Piper Sandler lowered their price target on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $57.00 price target (down from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd.

View Our Latest Research Report on WABC

Westamerica Bancorporation Trading Down 1.1 %

NASDAQ WABC opened at $47.62 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 8.04 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 stock has a 50-day moving average of $48.12 and a 200-day moving average of $48.77. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.25.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last announced its quarterly earnings data 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 net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million during the quarter, compared to the consensus estimate of $77.34 million. As a group, sell-side analysts forecast that Westamerica Bancorporation will post 5.25 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, May 3rd. Westamerica Bancorporation’s payout ratio is 29.73%.

Insider Activity

In related news, CFO John A. Thorson sold 1,100 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this link. In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares of the company’s stock, valued at approximately $193,915.53. The disclosure for this sale can be found here. Insiders own 5.50% 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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