Principal Financial Group Inc. Cuts Position in Westamerica Bancorporation (NASDAQ:WABC)

Principal Financial Group Inc. trimmed its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,496 shares of the financial services provider’s stock after selling 10,190 shares during the period. Principal Financial Group Inc. owned about 0.52% of Westamerica Bancorporation worth $6,894,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new position in shares of Westamerica Bancorporation during the 2nd quarter valued at $36,000. Glenmede Trust Co. NA acquired a new position in shares of Westamerica Bancorporation during the third quarter worth about $238,000. Choreo LLC purchased a new stake in shares of Westamerica Bancorporation in the second quarter worth about $256,000. CWM LLC grew its stake in shares of Westamerica Bancorporation by 43.9% in the third quarter. CWM LLC now owns 5,250 shares of the financial services provider’s stock valued at $259,000 after buying an additional 1,601 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Westamerica Bancorporation during the 2nd quarter valued at about $332,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

Westamerica Bancorporation Stock Performance

NASDAQ:WABC opened at $52.46 on Wednesday. The firm has a 50-day moving average of $54.91 and a two-hundred day moving average of $51.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $1.40 billion, a P/E ratio of 9.56 and a beta of 0.57. Westamerica Bancorporation has a 1-year low of $43.82 and a 1-year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.27. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The firm had revenue of $74.07 million during the quarter, compared to analyst estimates of $72.74 million. On average, research analysts expect that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.35%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

Westamerica Bancorporation 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.