Cwm LLC Raises Stock Holdings in Westamerica Bancorporation $WABC

Cwm LLC raised its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 162.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,585 shares of the financial services provider’s stock after purchasing an additional 12,133 shares during the quarter. Cwm LLC owned 0.08% of Westamerica Bancorporation worth $979,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Inspire Investing LLC boosted its position in Westamerica Bancorporation by 13.2% in the third quarter. Inspire Investing LLC now owns 9,070 shares of the financial services provider’s stock valued at $453,000 after buying an additional 1,058 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Westamerica Bancorporation in the third quarter worth $5,831,000. Public Sector Pension Investment Board increased its stake in shares of Westamerica Bancorporation by 5.4% in the second quarter. Public Sector Pension Investment Board now owns 89,249 shares of the financial services provider’s stock worth $4,323,000 after acquiring an additional 4,552 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Westamerica Bancorporation by 0.7% during the second quarter. CANADA LIFE ASSURANCE Co now owns 32,377 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 213 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Westamerica Bancorporation by 295.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,424 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 3,305 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WABC shares. Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.00.

Westamerica Bancorporation Trading Down 1.5%

WABC stock opened at $48.52 on Wednesday. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $53.85. 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 firm has a market cap of $1.21 billion, a P/E ratio of 10.57 and a beta of 0.62. The company’s 50-day simple moving average is $48.27 and its 200-day simple moving average is $48.73.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $63.20 million during the quarter, compared to analysts’ expectations of $64.20 million. Westamerica Bancorporation had a return on equity of 13.10% and a net margin of 43.19%. As a group, equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation declared that its board has initiated a stock buyback plan on Thursday, December 18th that authorizes the company to buyback $2.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.84 dividend on an annualized basis and a yield of 3.8%. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 40.09%.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.