Nisa Investment Advisors LLC lowered its position in Westamerica Bancorporation (NASDAQ:WABC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,040 shares of the financial services provider’s stock after selling 160 shares during the period. Nisa Investment Advisors LLC’s holdings in Westamerica Bancorporation were worth $451,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. First Interstate Bank bought a new stake in shares of Westamerica Bancorporation during the first quarter worth approximately $104,000. Norges Bank bought a new stake in shares of Westamerica Bancorporation during the fourth quarter worth approximately $9,732,000. Comerica Bank raised its stake in shares of Westamerica Bancorporation by 25.6% in the first quarter. Comerica Bank now owns 41,572 shares of the financial services provider’s stock worth $2,372,000 after buying an additional 8,467 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Westamerica Bancorporation by 5.0% in the first quarter. Ameriprise Financial Inc. now owns 174,434 shares of the financial services provider’s stock worth $9,739,000 after buying an additional 8,234 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 worth $14,696,000 after buying an additional 9,883 shares during the last quarter. Institutional investors and hedge funds own 86.98% of the company’s stock.

Westamerica Bancorporation (NASDAQ WABC) traded down 0.81% on Friday, reaching $51.24. 37,767 shares of the company were exchanged. Westamerica Bancorporation has a 12-month low of $46.92 and a 12-month high of $65.34. The company’s 50-day moving average price is $54.88 and its 200-day moving average price is $55.30. The stock has a market capitalization of $1.35 billion, a P/E ratio of 21.99 and a beta of 1.06.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $47.90 million for the quarter, compared to the consensus estimate of $46.70 million. Westamerica Bancorporation had a net margin of 33.83% and a return on equity of 10.57%. Westamerica Bancorporation’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. Equities research analysts anticipate that Westamerica Bancorporation will post $2.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 66.67%.

Westamerica Bancorporation declared that its board has approved a stock repurchase program on Thursday, July 27th that allows the company to buyback 1,750,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of equities research analysts recently commented on WABC shares. BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods upgraded shares of Westamerica Bancorporation from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $54.00 to $56.00 in a report on Friday, April 21st. Finally, Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.00.

In related news, Director Edward B. Sylvester sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $54.40, for a total value of $68,544.00. Following the sale, the director now directly owns 72,490 shares of the company’s stock, valued at $3,943,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

Westamerica Bancorporation Company Profile

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.

Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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