Amalgamated Bank Sells 232 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Amalgamated Bank decreased its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,874 shares of the financial services provider’s stock after selling 232 shares during the quarter. Amalgamated Bank’s holdings in Westamerica Bancorporation were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WABC. Kimelman & Baird LLC bought a new position in shares of Westamerica Bancorporation during the second quarter worth approximately $36,000. EntryPoint Capital LLC acquired a new position in Westamerica Bancorporation in the 1st quarter valued at $75,000. GAMMA Investing LLC lifted its position in shares of Westamerica Bancorporation by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 226 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Westamerica Bancorporation during the 1st quarter worth $113,000. Finally, CWM LLC grew its holdings in shares of Westamerica Bancorporation by 16.4% during the 2nd quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 514 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WABC. StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Maxim Group cut shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Westamerica Bancorporation currently has a consensus rating of “Hold” and an average price target of $57.00.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $57.03 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.25 and a current ratio of 0.26. Westamerica Bancorporation has a 52 week low of $43.82 and a 52 week high of $59.33. The stock has a market capitalization of $1.52 billion, a P/E ratio of 10.39 and a beta of 0.54. The stock has a fifty day moving average of $51.21 and a 200-day moving average of $50.29.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, hitting the consensus estimate of $1.27. The firm had revenue of $74.07 million during the quarter, compared to the consensus estimate of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. On average, sell-side analysts expect that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is 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.