Vanguard Group Inc. Has $150.86 Million Stock Position in Westamerica Bancorporation (NASDAQ:WABC)

Vanguard Group Inc. trimmed its holdings in Westamerica Bancorporation (NASDAQ:WABCFree Report) by 0.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,488,159 shares of the financial services provider’s stock after selling 1,383 shares during the quarter. Vanguard Group Inc. owned about 13.09% of Westamerica Bancorporation worth $150,863,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in Westamerica Bancorporation by 161.7% in the 4th quarter. Morgan Stanley now owns 695,619 shares of the financial services provider’s stock valued at $41,049,000 after acquiring an additional 429,802 shares in the last quarter. Norges Bank bought a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $12,477,000. American Century Companies Inc. increased its holdings in shares of Westamerica Bancorporation by 20.8% during the third quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock worth $51,828,000 after buying an additional 206,376 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Westamerica Bancorporation by 675.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 233,361 shares of the financial services provider’s stock valued at $13,771,000 after acquiring an additional 203,249 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Westamerica Bancorporation by 4.7% during the 1st quarter. BlackRock Inc. now owns 3,982,861 shares of the financial services provider’s stock valued at $176,441,000 after acquiring an additional 179,782 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Westamerica Bancorporation

In related news, CEO David L. Payne sold 15,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.75, for a total value of $746,250.00. Following the sale, the chief executive officer now directly owns 288,689 shares of the company’s stock, valued at approximately $14,362,277.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David L. Payne sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $49.75, for a total value of $746,250.00. Following the transaction, the chief executive officer now owns 288,689 shares of the company’s stock, valued at $14,362,277.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David L. Payne sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the completion of the sale, the chief executive officer now owns 268,689 shares of the company’s stock, valued at $13,302,792.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,000 shares of company stock worth $2,213,458. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 19th. Piper Sandler lowered their price target on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, StockNews.com lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Sunday.

Check Out Our Latest Analysis on WABC

Westamerica Bancorporation Price Performance

WABC opened at $47.87 on Tuesday. The firm has a market cap of $1.28 billion, a PE ratio of 7.90 and a beta of 0.56. The stock has a 50-day moving average price of $46.92 and a 200-day moving average price of $48.65. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last posted its earnings results on Thursday, January 18th. The financial services provider reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Westamerica Bancorporation had a return on equity of 23.61% and a net margin of 49.39%. The business had revenue of $80.37 million during the quarter, compared to the consensus estimate of $81.03 million. As a group, sell-side analysts anticipate that Westamerica Bancorporation will post 5.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is currently 29.04%.

Westamerica Bancorporation Company Profile

(Free Report)

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.

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

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