Dimensional Fund Advisors LP Sells 1,960 Shares of Westamerica Bancorporation (WABC)
Dimensional Fund Advisors LP lowered its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 670,371 shares of the financial services provider’s stock after selling 1,960 shares during the quarter. Dimensional Fund Advisors LP owned about 2.55% of Westamerica Bancorporation worth $37,569,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in WABC. Huntington National Bank lifted its position in Westamerica Bancorporation by 18.7% during the second quarter. Huntington National Bank now owns 1,971 shares of the financial services provider’s stock valued at $110,000 after buying an additional 310 shares during the period. Northwest Investment Counselors LLC purchased a new position in Westamerica Bancorporation during the second quarter valued at $134,000. SG Americas Securities LLC lifted its position in Westamerica Bancorporation by 20.1% during the first quarter. SG Americas Securities LLC now owns 2,795 shares of the financial services provider’s stock valued at $156,000 after buying an additional 467 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Westamerica Bancorporation during the first quarter valued at $157,000. Finally, State of Alaska Department of Revenue lifted its position in Westamerica Bancorporation by 79.0% during the second quarter. State of Alaska Department of Revenue now owns 5,191 shares of the financial services provider’s stock valued at $290,000 after buying an additional 2,291 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.
In related news, Director Edward B. Sylvester sold 1,260 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $54.40, for a total transaction of $68,544.00. Following the completion of the sale, the director now directly owns 72,490 shares in the company, valued at approximately $3,943,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James J. Schneck sold 6,000 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.86, for a total value of $353,160.00. Following the sale, the vice president now owns 6,025 shares of the company’s stock, valued at $354,631.50. The disclosure for this sale can be found here. Insiders sold a total of 19,728 shares of company stock valued at $1,154,822 over the last quarter. Company insiders own 4.90% of the company’s stock.
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Separately, BidaskClub raised Westamerica Bancorporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th.
Westamerica Bancorporation (NASDAQ:WABC) opened at 59.23 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 25.42 and a beta of 1.10. The firm’s 50-day moving average price is $56.67 and its 200 day moving average price is $54.71. Westamerica Bancorporation has a 12 month low of $48.13 and a 12 month high of $65.34.
Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The business had revenue of $45.22 million during the quarter. On average, analysts anticipate that Westamerica Bancorporation will post $2.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, November 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 67.83%.
Westamerica Bancorporation announced that its Board of Directors has authorized a share repurchase program on Thursday, July 27th that authorizes the company to buyback 1,750,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Westamerica Bancorporation 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.
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