D.A. Davidson & CO. Purchases 2,471 Shares of Westamerica Bancorporation $WABC

D.A. Davidson & CO. boosted its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 35.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,366 shares of the financial services provider’s stock after buying an additional 2,471 shares during the period. D.A. Davidson & CO.’s holdings in Westamerica Bancorporation were worth $454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Westamerica Bancorporation by 33.2% during the second quarter. CWM LLC now owns 7,452 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,857 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Westamerica Bancorporation by 18.2% in the 2nd quarter. Inspire Investing LLC now owns 8,012 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 1,231 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Westamerica Bancorporation by 5.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 15,579 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 780 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Westamerica Bancorporation in the 2nd quarter valued at approximately $241,000. Finally, Voya Investment Management LLC lifted its stake in shares of Westamerica Bancorporation by 54.6% in the 1st quarter. Voya Investment Management LLC now owns 40,654 shares of the financial services provider’s stock valued at $2,058,000 after purchasing an additional 14,362 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Price Performance

WABC opened at $47.75 on Thursday. The business has a fifty day moving average of $48.61 and a 200 day moving average of $48.66. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.22 billion, a P/E ratio of 10.40 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Westamerica Bancorporation had a return on equity of 13.10% and a net margin of 43.19%.The company had revenue of $64.00 million during the quarter, compared to analysts’ expectations of $64.20 million. As a group, sell-side analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 3rd. This represents a $1.84 dividend on an annualized basis and a yield of 3.9%. Westamerica Bancorporation’s payout ratio is presently 40.09%.

Analyst Ratings Changes

Several research firms have recently issued reports on WABC. Keefe, Bruyette & Woods lowered their price objective on 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. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average 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.