Schwab Charles Investment Management Inc. boosted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,902 shares of the financial services provider’s stock after purchasing an additional 8,332 shares during the period. Schwab Charles Investment Management Inc. owned 0.66% of Westamerica Bancorporation worth $10,355,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WABC. First Trust Advisors LP increased its holdings in Westamerica Bancorporation by 10.8% during the 2nd quarter. First Trust Advisors LP now owns 59,580 shares of the financial services provider’s stock valued at $3,339,000 after purchasing an additional 5,801 shares in the last quarter. Rhumbline Advisers increased its holdings in Westamerica Bancorporation by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 58,466 shares of the financial services provider’s stock valued at $3,276,000 after purchasing an additional 638 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Westamerica Bancorporation by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,710 shares of the financial services provider’s stock valued at $27,667,000 after purchasing an additional 121,484 shares in the last quarter. Legal & General Group Plc increased its holdings in Westamerica Bancorporation by 8.9% during the 2nd quarter. Legal & General Group Plc now owns 50,795 shares of the financial services provider’s stock valued at $2,846,000 after purchasing an additional 4,133 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Westamerica Bancorporation by 49.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,117 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 2,694 shares in the last quarter. 85.95% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price target on shares of Westamerica Bancorporation in a report on Friday, December 22nd. BidaskClub cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.

Shares of Westamerica Bancorporation (NASDAQ:WABC) opened at $59.55 on Friday. Westamerica Bancorporation has a twelve month low of $49.38 and a twelve month high of $64.91. The firm has a market capitalization of $1,584.16, a price-to-earnings ratio of 25.89 and a beta of 1.07.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.57. The firm had revenue of $45.22 million during the quarter. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%.

In other Westamerica Bancorporation news, CFO John A. Thorson sold 12,468 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.80, for a total value of $733,118.40. Following the transaction, the chief financial officer now directly owns 12,468 shares in the company, valued at approximately $733,118.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dennis R. Hansen sold 18,400 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.34, for a total value of $1,091,856.00. Following the completion of the transaction, the senior vice president now owns 19,421 shares in the company, valued at $1,152,442.14. The disclosure for this sale can be found here. Insiders sold a total of 56,868 shares of company stock worth $3,340,734 over the last quarter. Corporate insiders own 4.90% of the company’s stock.

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

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