Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 247,138 shares of the financial services provider’s stock after selling 20,769 shares during the quarter. Invesco Ltd. owned about 0.93% of Westamerica Bancorporation worth $12,965,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WABC. Golden State Wealth Management LLC acquired a new position in Westamerica Bancorporation during the fourth quarter worth about $65,000. KBC Group NV grew its stake in shares of Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 822 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 268 shares in the last quarter. Gallacher Capital Management LLC acquired a new stake in Westamerica Bancorporation during the fourth quarter valued at approximately $205,000. Finally, One Capital Management LLC bought a new stake in Westamerica Bancorporation during the fourth quarter worth approximately $210,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on WABC. Piper Sandler cut their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating on the stock in a report on Monday.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC opened at $45.90 on Tuesday. The company’s fifty day moving average is $49.00 and its two-hundred day moving average is $51.64. The company has a market cap of $1.23 billion, a P/E ratio of 8.83 and a beta of 0.63. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The firm had revenue of $66.71 million for the quarter, compared to analyst estimates of $66.47 million. Equities analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Monday, February 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 35.27%.

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.