Westamerica Bancorporation $WABC Shares Purchased by UBS Group AG

UBS Group AG grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 279.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 457,206 shares of the financial services provider’s stock after purchasing an additional 336,714 shares during the quarter. UBS Group AG owned 1.83% of Westamerica Bancorporation worth $21,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Westamerica Bancorporation by 354.3% in the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after buying an additional 666 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Westamerica Bancorporation by 201.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Westamerica Bancorporation by 10,335.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,447 shares during the period. Strs Ohio purchased a new position in Westamerica Bancorporation in the 1st quarter worth approximately $96,000. Finally, Jones Financial Companies Lllp acquired a new stake in Westamerica Bancorporation in the first quarter valued at approximately $99,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Down 1.2%

Shares of NASDAQ:WABC opened at $54.19 on Tuesday. The firm has a market cap of $1.31 billion, a PE ratio of 12.07 and a beta of 0.57. The company has a fifty day simple moving average of $52.40 and a 200 day simple moving average of $50.41. Westamerica Bancorporation has a 12-month low of $44.93 and a 12-month high of $56.22.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $62.08 million for the quarter, compared to the consensus estimate of $60.70 million. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%.

Westamerica Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, May 4th. Westamerica Bancorporation’s payout ratio is 42.76%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings raised shares of Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Westamerica Bancorporation presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP Robert James Baker, Jr. sold 759 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $53.83, for a total transaction of $40,856.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.