Charles Schwab Investment Management Inc. Trims Holdings in Westamerica Bancorporation $WABC

Charles Schwab Investment Management Inc. reduced its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,953 shares of the financial services provider’s stock after selling 18,872 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.95% of Westamerica Bancorporation worth $12,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Westamerica Bancorporation by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 8,325 shares of the financial services provider’s stock worth $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% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,619 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 510 shares during the last quarter. Allworth Financial LP lifted its stake in Westamerica Bancorporation by 13.0% during the first quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 510 shares during the last quarter. US Bancorp DE lifted its stake in Westamerica Bancorporation by 19.9% during the first quarter. US Bancorp DE now owns 4,698 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 780 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Westamerica Bancorporation by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 15,607 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 856 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WABC has been the topic of several research analyst reports. Wall Street Zen cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods reduced their price objective on Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Westamerica Bancorporation Price Performance

Shares of NASDAQ WABC opened at $50.74 on Friday. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.29. The business’s fifty day moving average price is $49.07 and its two-hundred day moving average price is $49.02. The firm has a market capitalization of $1.29 billion, a PE ratio of 10.62 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results 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 return on equity of 13.81% and a net margin of 43.69%.The firm had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. On average, research analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.6%. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 38.49%.

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.