US Bancorp DE Buys 780 Shares of Westamerica Bancorporation (NASDAQ:WABC)

US Bancorp DE boosted its stake in Westamerica Bancorporation (NASDAQ:WABC) by 19.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,698 shares of the financial services provider’s stock after purchasing an additional 780 shares during the period. US Bancorp DE’s holdings in Westamerica Bancorporation were worth $238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in Westamerica Bancorporation by 4.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,325 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Westamerica Bancorporation by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,619 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 510 shares during the last quarter. Allworth Financial LP lifted its stake in Westamerica Bancorporation by 13.0% in the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 510 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 734 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Westamerica Bancorporation by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 15,607 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 856 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Price Performance

WABC stock opened at $49.66 on Friday. The company has a fifty day moving average price of $48.96 and a 200-day moving average price of $49.13. The company has a market capitalization of $1.26 billion, a P/E ratio of 10.39 and a beta of 0.63. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The company had revenue of $64.88 million during the quarter, compared to analysts’ expectations of $65.80 million. As a group, equities analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, August 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.7%. Westamerica Bancorporation’s dividend payout ratio is 38.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WABC shares. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, July 21st. Piper Sandler dropped their price target on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Wall Street Zen downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

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.