Prudential Financial Inc. Sells 710 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Prudential Financial Inc. cut its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,040 shares of the financial services provider’s stock after selling 710 shares during the period. Prudential Financial Inc. owned 0.10% of Westamerica Bancorporation worth $1,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Westamerica Bancorporation by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock worth $36,352,000 after acquiring an additional 28,902 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Westamerica Bancorporation by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider’s stock worth $7,600,000 after purchasing an additional 5,368 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $245,000. Barclays PLC lifted its position 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 purchasing an additional 26,871 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Westamerica Bancorporation by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider’s stock worth $4,026,000 after buying an additional 32,981 shares in the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $45.39 on Friday. Westamerica Bancorporation has a fifty-two week low of $44.51 and a fifty-two 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 0.27. The stock has a market cap of $1.21 billion, a P/E ratio of 8.73 and a beta of 0.63. The firm’s fifty day moving average price is $50.57 and its 200-day moving average price is $52.01.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. During the same quarter in the prior year, the business earned $1.48 EPS. On average, equities research analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Monday, February 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 33.85%.

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.