Geode Capital Management LLC Grows Stake in Westamerica Bancorporation (NASDAQ:WABC)

Geode Capital Management LLC raised its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 735,439 shares of the financial services provider’s stock after purchasing an additional 28,902 shares during the period. Geode Capital Management LLC owned 2.76% of Westamerica Bancorporation worth $36,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC boosted its stake in shares of Westamerica Bancorporation by 2.8% during the 3rd quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 191 shares during the period. Louisiana State Employees Retirement System boosted its position 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 valued at $650,000 after buying an additional 200 shares during the period. Martingale Asset Management L P grew its stake in shares of Westamerica Bancorporation by 0.7% during 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 buying an additional 200 shares during the last quarter. Algert Global LLC grew its stake 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 valued at $3,124,000 after buying an additional 304 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Westamerica Bancorporation in the second quarter worth approximately $36,000. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $52.54 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 9.57 and a beta of 0.57. The firm has a 50-day moving average of $54.85 and a two-hundred day moving average of $51.63. Westamerica Bancorporation has a 1 year low of $43.82 and a 1 year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results 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 firm had revenue of $74.07 million during the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. On average, research analysts forecast that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.44 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.76 annualized dividend and a dividend yield of 3.35%. Westamerica Bancorporation’s payout ratio is currently 32.06%.

Wall Street Analysts Forecast Growth

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

Westamerica Bancorporation 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.