Westamerica Bancorp (WABC) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its position in Westamerica Bancorp (NASDAQ:WABC) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 919,073 shares of the financial services provider’s stock after buying an additional 52,422 shares during the period. Victory Capital Management Inc. owned about 3.58% of Westamerica Bancorp worth $46,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Advisors LLC boosted its stake in shares of Westamerica Bancorp by 0.9% in the second quarter. BlackRock Advisors LLC now owns 11,865 shares of the financial services provider’s stock worth $584,000 after buying an additional 109 shares during the period. PineBridge Investments L.P. boosted its stake in shares of Westamerica Bancorp by 3.7% in the second quarter. PineBridge Investments L.P. now owns 3,234 shares of the financial services provider’s stock worth $159,000 after buying an additional 114 shares during the period. Profund Advisors LLC boosted its stake in shares of Westamerica Bancorp by 2.4% in the second quarter. Profund Advisors LLC now owns 6,107 shares of the financial services provider’s stock worth $301,000 after buying an additional 143 shares during the period. Arizona State Retirement System boosted its stake in shares of Westamerica Bancorp by 1.5% in the second quarter. Arizona State Retirement System now owns 13,210 shares of the financial services provider’s stock worth $651,000 after buying an additional 200 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Westamerica Bancorp by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 86,006 shares of the financial services provider’s stock worth $4,237,000 after buying an additional 244 shares during the period. Institutional investors own 83.86% of the company’s stock.
Shares of Westamerica Bancorp (NASDAQ:WABC) traded up 2.06% during mid-day trading on Wednesday, hitting $62.44. The stock had a trading volume of 7,881 shares. Westamerica Bancorp has a 52 week low of $40.52 and a 52 week high of $62.53. The firm has a market cap of $1.60 billion, a PE ratio of 27.15 and a beta of 0.92. The stock has a 50 day moving average price of $53.05 and a 200 day moving average price of $49.75.
Westamerica Bancorp (NASDAQ:WABC) last released its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.05. Westamerica Bancorp had a return on equity of 10.76% and a net margin of 32.57%. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts expect that Westamerica Bancorp will post $2.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $1.56 annualized dividend and a yield of 2.55%. Westamerica Bancorp’s payout ratio is currently 67.53%.
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WABC has been the topic of a number of analyst reports. TheStreet upgraded Westamerica Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Zacks Investment Research upgraded Westamerica Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $46.33.
In related news, VP James J. Schneck sold 5,900 shares of Westamerica Bancorp stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $49.49, for a total transaction of $291,991.00. Following the completion of the sale, the vice president now directly owns 5,925 shares of the company’s stock, valued at approximately $293,228.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.
About Westamerica Bancorp
Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.
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