NN Investment Partners Holdings N.V. Has $867,000 Stake in Westamerica Bancorporation (WABC)
NN Investment Partners Holdings N.V. boosted its stake in Westamerica Bancorporation (NASDAQ:WABC) by 8.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,465 shares of the financial services provider’s stock after buying an additional 1,170 shares during the period. NN Investment Partners Holdings N.V. owned about 0.06% of Westamerica Bancorporation worth $867,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in Westamerica Bancorporation during the second quarter valued at approximately $134,000. State Street Corp boosted its position in Westamerica Bancorporation by 17.0% in the first quarter. State Street Corp now owns 857,733 shares of the financial services provider’s stock valued at $47,882,000 after buying an additional 124,661 shares during the period. Bank of America Corp DE boosted its position in Westamerica Bancorporation by 3.9% in the first quarter. Bank of America Corp DE now owns 263,239 shares of the financial services provider’s stock valued at $14,696,000 after buying an additional 9,883 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Westamerica Bancorporation during the first quarter valued at approximately $157,000. Finally, Schwab Charles Investment Management Inc. boosted its position in Westamerica Bancorporation by 17.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 156,695 shares of the financial services provider’s stock valued at $8,749,000 after buying an additional 22,989 shares during the period. Institutional investors own 86.73% of the company’s stock.
Westamerica Bancorporation (WABC) opened at 54.56 on Friday. The firm’s 50-day moving average is $55.05 and its 200 day moving average is $55.94. The firm has a market cap of $1.43 billion, a PE ratio of 23.72 and a beta of 1.06. Westamerica Bancorporation has a 12-month low of $46.51 and a 12-month high of $65.34.
Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $47.90 million for the quarter, compared to analyst estimates of $46.70 million. Westamerica Bancorporation had a net margin of 33.83% and a return on equity of 10.69%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. Equities research analysts predict that Westamerica Bancorporation will post $2.30 EPS for the current year.
Several research analysts have commented on the stock. BidaskClub cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Maxim Group reiterated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, April 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Westamerica Bancorporation from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $54.00 to $56.00 in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Westamerica Bancorporation currently has an average rating of “Hold” and a consensus target price of $56.00.
In other news, CFO John A. Thorson sold 1,303 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $58.09, for a total transaction of $75,691.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John A. Thorson sold 8,332 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $58.50, for a total transaction of $487,422.00. Following the sale, the chief financial officer now directly owns 8,332 shares of the company’s stock, valued at approximately $487,422. The disclosure for this sale can be found here. Insiders have sold 10,856 shares of company stock valued at $634,407 in the last three months. Corporate insiders own 4.90% 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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