State Street Corp Cuts Position in Westamerica Bancorporation (NASDAQ:WABC)

State Street Corp trimmed its stake in Westamerica Bancorporation (NASDAQ:WABC) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,286,129 shares of the financial services provider’s stock after selling 24,519 shares during the period. State Street Corp owned 4.82% of Westamerica Bancorporation worth $63,560,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position 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 valued at $347,000 after buying an additional 191 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in 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 valued at $650,000 after acquiring an additional 200 shares during the last quarter. Martingale Asset Management L P boosted its stake in Westamerica Bancorporation by 0.7% in the third quarter. Martingale Asset Management L P now owns 27,008 shares of the financial services provider’s stock valued at $1,335,000 after acquiring an additional 200 shares in the last quarter. Algert Global LLC grew its holdings in Westamerica Bancorporation by 0.5% in the second quarter. Algert Global LLC now owns 64,365 shares of the financial services provider’s stock worth $3,124,000 after purchasing an additional 304 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Westamerica Bancorporation in the second quarter worth $36,000. Institutional investors own 81.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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 Down 5.3 %

WABC stock opened at $52.26 on Thursday. The stock has a market capitalization of $1.39 billion, a PE ratio of 9.52 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 company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $54.59 and a 200 day moving average of $51.46.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The business had revenue of $74.07 million during the quarter, compared to analysts’ expectations of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. Sell-side analysts forecast that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.37%. Westamerica Bancorporation’s payout ratio is presently 32.06%.

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.