25,432 Shares in Westamerica Bancorporation (WABC) Acquired by Elkfork Partners LLC
Elkfork Partners LLC purchased a new position in Westamerica Bancorporation (NASDAQ:WABC) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 25,432 shares of the financial services provider’s stock, valued at approximately $1,600,000. Elkfork Partners LLC owned 0.10% of Westamerica Bancorporation as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Westamerica Bancorporation by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,026,030 shares of the financial services provider’s stock worth $99,802,000 after buying an additional 76,679 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Westamerica Bancorporation by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,754,316 shares of the financial services provider’s stock worth $89,260,000 after buying an additional 121,658 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Westamerica Bancorporation by 6.0% in the third quarter. Victory Capital Management Inc. now owns 919,073 shares of the financial services provider’s stock worth $46,763,000 after buying an additional 52,422 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Westamerica Bancorporation by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 883,222 shares of the financial services provider’s stock worth $44,939,000 after buying an additional 3,316 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Westamerica Bancorporation by 1.3% in the third quarter. Schroder Investment Management Group now owns 764,632 shares of the financial services provider’s stock worth $38,904,000 after buying an additional 9,932 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.
Shares of Westamerica Bancorporation (NASDAQ:WABC) traded down 0.38% during mid-day trading on Friday, reaching $57.86. 27,705 shares of the company were exchanged. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.27 and a beta of 1.01. Westamerica Bancorporation has a 12 month low of $43.06 and a 12 month high of $65.34. The firm’s 50-day moving average is $58.63 and its 200-day moving average is $54.58.
Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. Westamerica Bancorporation had a net margin of 32.58% and a return on equity of 10.60%. The firm earned $47.50 million during the quarter, compared to analyst estimates of $46.45 million. During the same quarter last year, the business posted $0.57 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Westamerica Bancorporation will post $2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Monday, February 6th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is 67.83%.
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Separately, TheStreet raised shares of Westamerica Bancorporation from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.
In other Westamerica Bancorporation news, VP James J. Schneck sold 6,500 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $56.03, for a total value of $364,195.00. Following the completion of the sale, the vice president now owns 6,525 shares in the company, valued at approximately $365,595.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David L. Robinson sold 22,100 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $57.06, for a total transaction of $1,261,026.00. The disclosure for this sale can be found here. Insiders sold a total of 219,879 shares of company stock valued at $12,451,325 in the last ninety days. Company insiders own 6.10% of the company’s stock.
About Westamerica Bancorporation
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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