Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 14.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,119 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Franklin Resources Inc.’s holdings in Westamerica Bancorporation were worth $652,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WABC. Kimelman & Baird LLC purchased a new stake in Westamerica Bancorporation during the 2nd quarter worth $36,000. Glenmede Trust Co. NA acquired a new position in shares of Westamerica Bancorporation during the third quarter worth about $238,000. CWM LLC boosted its position in shares of Westamerica Bancorporation by 43.9% in the third quarter. CWM LLC now owns 5,250 shares of the financial services provider’s stock worth $259,000 after buying an additional 1,601 shares during the period. Choreo LLC acquired a new stake in shares of Westamerica Bancorporation in the second quarter valued at about $256,000. Finally, SAM Advisors LLC purchased a new stake in shares of Westamerica Bancorporation during the 3rd quarter valued at about $336,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Up 0.1 %

Shares of Westamerica Bancorporation stock opened at $52.55 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. Westamerica Bancorporation has a 1-year low of $43.82 and a 1-year high of $59.97. The business has a 50-day moving average of $54.89 and a 200-day moving average of $51.75. The company has a market capitalization of $1.40 billion, a PE ratio of 9.57 and a beta of 0.57.

Westamerica Bancorporation (NASDAQ:WABC) last announced its 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. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The company had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. As a group, equities analysts forecast that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Monday, November 4th. 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.

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.