American Century Companies Inc. Decreases Stock Holdings in Westamerica Bancorporation $WABC

American Century Companies Inc. lowered its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,774,913 shares of the financial services provider’s stock after selling 244,416 shares during the quarter. American Century Companies Inc. owned 6.97% of Westamerica Bancorporation worth $88,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WABC. Hantz Financial Services Inc. lifted its holdings in shares of Westamerica Bancorporation by 201.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 561 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Westamerica Bancorporation by 354.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 666 shares during the last quarter. MAI Capital Management lifted its stake in shares of Westamerica Bancorporation by 126.1% in the 2nd quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. Strs Ohio purchased a new position in shares of Westamerica Bancorporation in the 1st quarter worth approximately $96,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Westamerica Bancorporation in the 1st quarter worth approximately $99,000. 81.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WABC shares. Wall Street Zen downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of “Hold” and a consensus target price of $52.50.

Westamerica Bancorporation Trading Up 0.3%

WABC stock opened at $51.23 on Wednesday. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $53.48. The firm’s 50-day moving average is $50.45 and its 200 day moving average is $49.15. The company has a market capitalization of $1.25 billion, a PE ratio of 11.33 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.26 and a quick ratio of 0.29.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. On average, research analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation announced that its Board of Directors has authorized a stock buyback program on Thursday, December 18th that permits the company to repurchase $2.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 0.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.84 annualized dividend and a yield of 3.6%. Westamerica Bancorporation’s dividend payout ratio is 40.71%.

Westamerica Bancorporation 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.