Dimensional Fund Advisors LP Has $41.80 Million Stock Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Dimensional Fund Advisors LP increased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 861,398 shares of the financial services provider’s stock after buying an additional 41,841 shares during the period. Dimensional Fund Advisors LP owned about 3.23% of Westamerica Bancorporation worth $41,801,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. lifted its position in shares of Westamerica Bancorporation by 21.7% in the 1st quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock worth $5,936,000 after purchasing an additional 21,624 shares during the period. Janus Henderson Group PLC lifted its position in shares of Westamerica Bancorporation by 124.0% during the 1st quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock valued at $1,301,000 after acquiring an additional 14,738 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Westamerica Bancorporation by 70.2% during the 1st quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock valued at $12,326,000 after acquiring an additional 104,029 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter valued at $1,874,000. Finally, Entropy Technologies LP acquired a new position in shares of Westamerica Bancorporation during the 1st quarter valued at $258,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $49.42 on Tuesday. The firm has a market capitalization of $1.32 billion, a PE ratio of 8.35 and a beta of 0.55. The firm has a fifty day simple moving average of $50.63 and a two-hundred day simple moving average of $49.19. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. Westamerica Bancorporation has a 12 month low of $42.28 and a 12 month high of $58.49.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. The business had revenue of $79.57 million during the quarter, compared to analyst estimates of $74.28 million. Westamerica Bancorporation had a net margin of 47.12% and a return on equity of 20.17%. Analysts forecast that Westamerica Bancorporation will post 5.2 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a $0.44 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.56%. Westamerica Bancorporation’s payout ratio is 29.73%.

Analyst Upgrades and Downgrades

WABC has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Maxim Group downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.00.

Westamerica Bancorporation Company 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.