Charles Schwab Investment Management Inc. Purchases 22,902 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Charles Schwab Investment Management Inc. increased its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 7.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334,297 shares of the financial services provider’s stock after buying an additional 22,902 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Westamerica Bancorporation worth $16,521,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Intech Investment Management LLC grew its holdings in shares of Westamerica Bancorporation by 2.8% during the third quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after buying an additional 191 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Westamerica Bancorporation by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock worth $650,000 after buying an additional 200 shares in the last quarter. Algert Global LLC grew its holdings in shares of Westamerica Bancorporation by 0.5% during the second quarter. Algert Global LLC now owns 64,365 shares of the financial services provider’s stock worth $3,124,000 after buying an additional 304 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Westamerica Bancorporation by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 17,948 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 318 shares during the last quarter. Finally, CWM LLC boosted its position in Westamerica Bancorporation by 16.4% during the second quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 514 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $57.13 on Friday. The stock has a market capitalization of $1.52 billion, a PE ratio of 10.41 and a beta of 0.57. Westamerica Bancorporation has a 52 week low of $43.82 and a 52 week high of $59.97. The stock has a 50 day moving average price of $53.34 and a 200 day moving average price of $51.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.26.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.27. The company had revenue of $74.07 million for the quarter, compared to the consensus estimate of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. Analysts predict that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is 32.06%.

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.