Comerica Bank Sells 2,365 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Comerica Bank cut its position in shares of Westamerica Bancorporation (NASDAQ:WABC – Get Rating) by 10.3% during the third quarter, Holdings Channel reports. The institutional investor owned 20,508 shares of the financial services provider’s stock after selling 2,365 shares during the quarter. Comerica Bank’s holdings in Westamerica Bancorporation were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WABC. Clifford Capital Partners LLC acquired a new stake in Westamerica Bancorporation during the second quarter worth about $8,394,000. Robeco Institutional Asset Management B.V. acquired a new stake in Westamerica Bancorporation during the second quarter worth about $5,772,000. Victory Capital Management Inc. grew its position in Westamerica Bancorporation by 619.5% during the second quarter. Victory Capital Management Inc. now owns 102,572 shares of the financial services provider’s stock worth $5,709,000 after buying an additional 88,316 shares in the last quarter. State Street Corp grew its position in Westamerica Bancorporation by 6.7% during the first quarter. State Street Corp now owns 1,151,491 shares of the financial services provider’s stock worth $69,665,000 after buying an additional 72,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Westamerica Bancorporation by 49.0% during the second quarter. Goldman Sachs Group Inc. now owns 134,559 shares of the financial services provider’s stock worth $7,489,000 after buying an additional 44,270 shares in the last quarter. 76.65% of the stock is owned by institutional investors and hedge funds.

Westamerica Bancorporation Trading Down 1.1 %

NASDAQ WABC opened at $55.38 on Tuesday. The stock’s 50 day moving average is $58.80 and its two-hundred day moving average is $57.88. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.23 and a beta of 0.66. Westamerica Bancorporation has a 1-year low of $52.04 and a 1-year high of $63.86.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, November 4th. Westamerica Bancorporation’s payout ratio is 37.09%.

Wall Street Analyst Weigh In

WABC has been the topic of a number of recent research reports. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Friday. Maxim Group lifted their price objective on Westamerica Bancorporation from $75.00 to $80.00 in a report on Monday, October 24th. Finally, Piper Sandler decreased their price objective on Westamerica Bancorporation to $58.00 in a report on Friday, September 30th.

Westamerica Bancorporation Profile

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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.