Allspring Global Investments Holdings LLC Sells 531 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Allspring Global Investments Holdings LLC lessened its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,157 shares of the financial services provider’s stock after selling 531 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Westamerica Bancorporation were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in Westamerica Bancorporation in the 2nd quarter valued at $36,000. EntryPoint Capital LLC purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter worth $75,000. GAMMA Investing LLC lifted its holdings in shares of Westamerica Bancorporation by 13.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after buying an additional 226 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter worth $113,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter worth $140,000. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Down 0.0 %

Westamerica Bancorporation stock opened at $51.50 on Friday. The stock has a 50-day moving average of $50.20 and a two-hundred day moving average of $49.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.25 and a current ratio of 0.26. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $58.49. The stock has a market cap of $1.37 billion, a PE ratio of 9.38 and a beta of 0.54.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 32.06%.

Analysts Set New Price Targets

WABC has been the subject of several research reports. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Maxim Group cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Piper Sandler upped their price objective on Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Westamerica Bancorporation currently has an average rating of “Hold” and an average target price of $57.00.

About Westamerica Bancorporation

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.