Westamerica Bancorporation $WABC Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lowered its position in Westamerica Bancorporation (NASDAQ:WABC) by 12.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,892 shares of the financial services provider’s stock after selling 267 shares during the quarter. GAMMA Investing LLC’s holdings in Westamerica Bancorporation were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WABC. Nuveen LLC acquired a new stake in shares of Westamerica Bancorporation in the first quarter valued at approximately $17,023,000. American Century Companies Inc. increased its stake in shares of Westamerica Bancorporation by 4.9% in the first quarter. American Century Companies Inc. now owns 1,847,338 shares of the financial services provider’s stock valued at $93,531,000 after purchasing an additional 86,850 shares during the period. Jane Street Group LLC increased its stake in shares of Westamerica Bancorporation by 815.8% in the first quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after purchasing an additional 60,102 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Westamerica Bancorporation in the first quarter valued at approximately $2,719,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Westamerica Bancorporation by 3,675.0% in the first quarter. Russell Investments Group Ltd. now owns 45,753 shares of the financial services provider’s stock valued at $2,316,000 after purchasing an additional 44,541 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Down 2.9%

Westamerica Bancorporation stock opened at $48.53 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 10.15 and a beta of 0.61. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The firm’s 50 day moving average price is $49.13 and its two-hundred day moving average price is $48.85.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. On average, research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently declared 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 was Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.8%. Westamerica Bancorporation’s payout ratio is 38.49%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WABC. Keefe, Bruyette & Woods dropped their price target on shares of 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. Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $52.00.

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.