12,167 Shares in Westamerica Bancorporation $WABC Bought by Odyssean LLC

Odyssean LLC acquired a new position in Westamerica Bancorporation (NASDAQ:WABC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,167 shares of the financial services provider’s stock, valued at approximately $714,000. Odyssean LLC owned 0.05% of Westamerica Bancorporation as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Westamerica Bancorporation by 42.6% in the 1st quarter. Bessemer Group Inc. now owns 636 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Westamerica Bancorporation by 354.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after buying an additional 666 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Westamerica Bancorporation in the 2nd quarter valued at approximately $44,000. PNC Financial Services Group Inc. increased its position in Westamerica Bancorporation by 49.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 351 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Westamerica Bancorporation by 7,286.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,093 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WABC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings downgraded shares of Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $64.00.

Westamerica Bancorporation Stock Up 0.4%

NASDAQ:WABC opened at $58.14 on Thursday. The business’s 50-day moving average price is $59.33 and its 200 day moving average price is $55.47. Westamerica Bancorporation has a 52-week low of $44.93 and a 52-week high of $63.61. The firm has a market cap of $1.34 billion, a P/E ratio of 12.81 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. The company had revenue of $62.77 million during the quarter, compared to the consensus estimate of $61.60 million. During the same period in the prior year, the company earned $1.12 EPS.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 42.29%.

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.