JPMorgan Chase & Co. Acquires 32,981 Shares of Westamerica Bancorporation (NASDAQ:WABC)

JPMorgan Chase & Co. increased its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 68.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,459 shares of the financial services provider’s stock after acquiring an additional 32,981 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of Westamerica Bancorporation worth $4,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. grew its position in Westamerica Bancorporation by 54.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider’s stock worth $6,423,000 after purchasing an additional 45,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Westamerica Bancorporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after buying an additional 41,841 shares during the period. Geode Capital Management LLC grew its position in Westamerica Bancorporation by 4.1% during the third quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock worth $36,352,000 after buying an additional 28,902 shares in the last quarter. Barclays PLC increased its stake in Westamerica Bancorporation by 103.8% during the third quarter. Barclays PLC now owns 52,755 shares of the financial services provider’s stock valued at $2,606,000 after acquiring an additional 26,871 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Westamerica Bancorporation by 7.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock valued at $16,521,000 after acquiring an additional 22,902 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 2.0 %

Shares of WABC stock opened at $52.41 on Friday. The firm has a fifty day moving average of $54.49 and a 200-day moving average of $52.13. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 9.55 and a beta of 0.58. Westamerica Bancorporation has a 52-week low of $43.82 and a 52-week high of $59.97. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. During the same period last year, the firm earned $1.48 earnings per share. On average, equities research analysts forecast that Westamerica Bancorporation will post 5.17 earnings per share 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 issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.36%. Westamerica Bancorporation’s payout ratio is presently 33.85%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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.