New York State Common Retirement Fund increased its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,951 shares of the financial services provider’s stock after buying an additional 38,123 shares during the quarter. New York State Common Retirement Fund’s holdings in Westamerica Bancorporation were worth $7,592,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. bought a new stake in Westamerica Bancorporation during the first quarter worth $136,000. Teacher Retirement System of Texas purchased a new position in Westamerica Bancorporation in the second quarter worth $206,000. Mutual of America Capital Management LLC boosted its position in Westamerica Bancorporation by 6.7% in the second quarter. Mutual of America Capital Management LLC now owns 3,820 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 240 shares during the last quarter. Ergoteles LLC boosted its position in Westamerica Bancorporation by 23.9% in the second quarter. Ergoteles LLC now owns 4,100 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 790 shares during the last quarter. Finally, WestHill Financial Advisors Inc. purchased a new position in Westamerica Bancorporation in the third quarter worth $242,000. Institutional investors and hedge funds own 75.74% of the company’s stock.
Shares of NASDAQ WABC opened at $58.70 on Wednesday. Westamerica Bancorporation has a one year low of $53.24 and a one year high of $66.85. The business’s fifty day moving average price is $56.67 and its 200-day moving average price is $56.46. The stock has a market capitalization of $1.58 billion, a PE ratio of 17.79 and a beta of 0.63.
Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Wednesday, October 20th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Westamerica Bancorporation had a return on equity of 10.14% and a net margin of 40.32%. The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.57 million. As a group, research analysts forecast that Westamerica Bancorporation will post 3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Monday, November 8th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, November 5th. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.41. Westamerica Bancorporation’s dividend payout ratio is currently 50.91%.
WABC has been the topic of several research analyst reports. TheStreet raised Westamerica Bancorporation from a “c+” rating to a “b-” rating in a research report on Tuesday, November 9th. Maxim Group reissued a “buy” rating and issued a $76.00 price objective on shares of Westamerica Bancorporation in a research report on Friday, October 22nd. Finally, Zacks Investment Research cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, December 22nd.
Westamerica Bancorporation Company Profile
Westamerica Bancorporation operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California. It offers loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services.
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