Public Sector Pension Investment Board Has $4.96 Million Holdings in Westamerica Bancorporation $WABC

Public Sector Pension Investment Board grew its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,309 shares of the financial services provider’s stock after acquiring an additional 10,060 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Westamerica Bancorporation worth $4,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. MQS Management LLC acquired a new stake in Westamerica Bancorporation in the 3rd quarter valued at $438,000. Alps Advisors Inc. lifted its stake in shares of Westamerica Bancorporation by 29.3% in the third quarter. Alps Advisors Inc. now owns 9,382 shares of the financial services provider’s stock valued at $469,000 after buying an additional 2,127 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Westamerica Bancorporation by 201.1% during the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock valued at $42,000 after buying an additional 561 shares during the last quarter. Summit Global Investments bought a new stake in shares of Westamerica Bancorporation during the third quarter worth about $838,000. Finally, SummerHaven Investment Management LLC bought a new stake in shares of Westamerica Bancorporation during the third quarter worth about $821,000. 81.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, January 21st. Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods lifted their target price on Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.50.

Westamerica Bancorporation Trading Up 0.8%

NASDAQ:WABC opened at $52.64 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.65 and a beta of 0.62. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $53.36. The firm has a 50-day moving average price of $50.12 and a two-hundred day moving average price of $48.96.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, January 15th. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The firm had revenue of $66.05 million for the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. On average, equities analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation’s payout ratio is 40.71%.

Westamerica Bancorporation announced that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that authorizes the company to repurchase $2.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 0.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.