Principal Financial Group Inc. cut its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,383 shares of the financial services provider’s stock after selling 1,643 shares during the quarter. Principal Financial Group Inc. owned 0.75% of Westamerica Bancorporation worth $11,812,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of WABC. Comerica Bank increased its stake in Westamerica Bancorporation by 65.4% in the second quarter. Comerica Bank now owns 68,768 shares of the financial services provider’s stock valued at $3,788,000 after purchasing an additional 27,196 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Westamerica Bancorporation by 2.3% in the second quarter. JPMorgan Chase & Co. now owns 917,863 shares of the financial services provider’s stock worth $51,437,000 after buying an additional 20,295 shares during the period. Vanguard Group Inc. boosted its position in shares of Westamerica Bancorporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,629,587 shares of the financial services provider’s stock worth $147,362,000 after buying an additional 78,257 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Westamerica Bancorporation by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 493,710 shares of the financial services provider’s stock worth $27,667,000 after buying an additional 121,484 shares during the period. Finally, Citigroup Inc. boosted its position in shares of Westamerica Bancorporation by 11.2% in the second quarter. Citigroup Inc. now owns 23,376 shares of the financial services provider’s stock worth $1,310,000 after buying an additional 2,355 shares during the period. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Westamerica Bancorporation (NASDAQ:WABC) opened at $60.16 on Monday. The company has a market capitalization of $1,584.95, a P/E ratio of 26.16 and a beta of 1.07. Westamerica Bancorporation has a 1-year low of $49.38 and a 1-year high of $65.34.
Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The business had revenue of $45.22 million for the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 3rd. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 69.57%.
In other news, SVP Dennis R. Hansen sold 18,400 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $59.34, for a total transaction of $1,091,856.00. Following the completion of the sale, the senior vice president now directly owns 19,421 shares of the company’s stock, valued at approximately $1,152,442.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James J. Schneck sold 6,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.86, for a total value of $353,160.00. Following the completion of the sale, the vice president now directly owns 6,025 shares of the company’s stock, valued at approximately $354,631.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,868 shares of company stock worth $3,340,734. 4.90% of the stock is owned by insiders.
Separately, BidaskClub raised Westamerica Bancorporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th.
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Westamerica Bancorporation Company 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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