Westamerica Bancorporation (NASDAQ:WABC) Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,558 shares of the financial services provider’s stock after selling 1,056 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Westamerica Bancorporation worth $1,103,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. lifted its holdings in Westamerica Bancorporation by 8.3% in the third quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock worth $8,060,000 after acquiring an additional 14,206 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Westamerica Bancorporation in the third quarter worth about $2,990,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Westamerica Bancorporation by 44.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 1,562 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Westamerica Bancorporation by 53.3% in the third quarter. Los Angeles Capital Management LLC now owns 26,514 shares of the financial services provider’s stock worth $1,147,000 after acquiring an additional 9,220 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Westamerica Bancorporation by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock worth $12,198,000 after acquiring an additional 13,758 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.8 %

WABC opened at $47.76 on Wednesday. The business’s 50 day moving average is $46.97 and its 200-day moving average is $49.11. The stock has a market cap of $1.27 billion, a PE ratio of 8.07 and a beta of 0.56. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The business had revenue of $78.84 million for the quarter, compared to the consensus estimate of $77.34 million. As a group, analysts forecast that Westamerica Bancorporation will post 5.3 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.69%. Westamerica Bancorporation’s dividend payout ratio is presently 29.73%.

Analyst Ratings Changes

WABC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday. StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Piper Sandler cut their price target on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th.

Insider Activity at Westamerica Bancorporation

In related news, CEO David L. Payne sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total transaction of $495,100.00. Following the transaction, the chief executive officer now owns 268,689 shares in the company, valued at $13,302,792.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the transaction, the chief executive officer now owns 242,417 shares in the company, valued at $11,342,691.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Payne sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total transaction of $495,100.00. Following the transaction, the chief executive officer now owns 268,689 shares in the company, valued at approximately $13,302,792.39. The disclosure for this sale can be found here. Insiders have sold 36,272 shares of company stock worth $1,768,767 over the last quarter. 5.50% of the stock is currently owned by company insiders.

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.