RBO & Co. LLC Raises Stock Position in Westamerica Bancorporation $WABC

RBO & Co. LLC raised its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 297,088 shares of the financial services provider’s stock after buying an additional 2,363 shares during the period. Westamerica Bancorporation comprises about 2.3% of RBO & Co. LLC’s portfolio, making the stock its 20th largest holding. RBO & Co. LLC’s holdings in Westamerica Bancorporation were worth $14,391,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new position in Westamerica Bancorporation in the 1st quarter worth about $17,023,000. American Century Companies Inc. increased its position in shares of Westamerica Bancorporation by 9.3% in the second quarter. American Century Companies Inc. now owns 2,019,329 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 171,991 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Westamerica Bancorporation by 505.1% during the 2nd quarter. Denali Advisors LLC now owns 107,152 shares of the financial services provider’s stock worth $5,190,000 after buying an additional 89,444 shares during the period. Jane Street Group LLC lifted its position in shares of Westamerica Bancorporation by 815.8% during the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after buying an additional 60,102 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Westamerica Bancorporation in the 1st quarter valued at $2,719,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Up 2.6%

Shares of WABC opened at $47.65 on Friday. The stock has a 50 day moving average price of $47.87 and a 200 day moving average price of $48.67. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.38 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $63.20 million during the quarter, compared to analysts’ expectations of $64.20 million. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. Equities research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, November 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is 40.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WABC. Weiss Ratings restated a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.00.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company for the 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.