Aperio Group LLC decreased its stake in Westamerica Bancorporation (NASDAQ:WABC) by 9.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,147 shares of the financial services provider’s stock after selling 1,251 shares during the period. Aperio Group LLC’s holdings in Westamerica Bancorporation were worth $686,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Westamerica Bancorporation by 115.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,458 shares during the period. Xact Kapitalforvaltning AB grew its stake in Westamerica Bancorporation by 24.3% during the first quarter. Xact Kapitalforvaltning AB now owns 6,130 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 1,200 shares during the period. Millennium Management LLC acquired a new stake in Westamerica Bancorporation during the fourth quarter worth approximately $389,000. Barclays PLC grew its stake in Westamerica Bancorporation by 96.4% during the first quarter. Barclays PLC now owns 7,942 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 3,899 shares during the period. Finally, RMB Capital Management LLC grew its stake in Westamerica Bancorporation by 49.8% during the first quarter. RMB Capital Management LLC now owns 10,046 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 3,339 shares during the period. 89.86% of the stock is owned by institutional investors.

NASDAQ WABC opened at $63.11 on Friday. Westamerica Bancorporation has a one year low of $49.38 and a one year high of $64.76. The company has a market cap of $1.68 billion, a P/E ratio of 25.38 and a beta of 1.02.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 19th. The financial services provider reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Westamerica Bancorporation had a return on equity of 11.15% and a net margin of 28.19%. The business had revenue of $46.89 million during the quarter.

Westamerica Bancorporation announced that its Board of Directors has approved a share buyback plan on Thursday, July 26th that permits the company to repurchase 1,750,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, August 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $1.60 annualized dividend and a yield of 2.54%.

In related news, SVP Dennis R. Hansen sold 16,467 shares of the firm’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $59.71, for a total transaction of $983,244.57. Following the completion of the sale, the senior vice president now owns 18,787 shares of the company’s stock, valued at $1,121,771.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

Several equities research analysts recently commented on the company. Maxim Group reaffirmed a “hold” rating on shares of Westamerica Bancorporation in a research note on Monday, July 23rd. BidaskClub cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $54.67.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit to local businesses and professionals.

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

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