Westamerica Bancorporation (WABC) Position Maintained by State of Tennessee Treasury Department
State of Tennessee Treasury Department held its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 24,364 shares of the financial services provider’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department owned about 0.09% of Westamerica Bancorporation worth $1,365,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its stake in shares of Westamerica Bancorporation by 0.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 5,860 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 50 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of Westamerica Bancorporation by 2.3% during the first quarter. Suntrust Banks Inc. now owns 5,758 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 131 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Westamerica Bancorporation by 1.0% during the second quarter. Texas Permanent School Fund now owns 19,200 shares of the financial services provider’s stock valued at $1,076,000 after acquiring an additional 183 shares in the last quarter. Huntington National Bank grew its stake in shares of Westamerica Bancorporation by 18.7% during the second quarter. Huntington National Bank now owns 1,971 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 310 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Westamerica Bancorporation by 20.1% during the first quarter. SG Americas Securities LLC now owns 2,795 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 467 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.
In other Westamerica Bancorporation news, Director Edward B. Sylvester sold 1,260 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $54.40, for a total transaction of $68,544.00. Following the completion of the transaction, the director now owns 72,490 shares of the company’s stock, valued at approximately $3,943,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.
Separately, BidaskClub upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th.
Westamerica Bancorporation (NASDAQ WABC) opened at 55.92 on Friday. Westamerica Bancorporation has a 1-year low of $47.31 and a 1-year high of $65.34. The company has a 50-day moving average price of $52.25 and a 200-day moving average price of $54.22. The firm has a market capitalization of $1.47 billion, a P/E ratio of 24.00 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $47.90 million during the quarter, compared to analyst estimates of $46.70 million. Westamerica Bancorporation had a net margin of 33.83% and a return on equity of 10.57%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. On average, equities research analysts predict that Westamerica Bancorporation will post $2.32 earnings per share for the current fiscal year.
Westamerica Bancorporation declared that its board has authorized a share buyback program on Thursday, July 27th that permits the company to buyback 1,750,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Westamerica Bancorporation Profile
Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.
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