BlackRock Inc. lifted its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,396,214 shares of the financial services provider’s stock after purchasing an additional 91,055 shares during the period. BlackRock Inc. owned about 12.85% of Westamerica Bancorporation worth $202,245,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in WABC. Amalgamated Bank purchased a new stake in Westamerica Bancorporation during the 3rd quarter worth approximately $204,000. Janney Montgomery Scott LLC purchased a new stake in Westamerica Bancorporation during the 3rd quarter worth approximately $229,000. Crossmark Global Holdings Inc. purchased a new stake in Westamerica Bancorporation during the 3rd quarter worth approximately $305,000. Teacher Retirement System of Texas purchased a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $532,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Westamerica Bancorporation by 59.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 9,870 shares of the financial services provider’s stock worth $588,000 after buying an additional 3,670 shares in the last quarter. Hedge funds and other institutional investors own 85.62% of the company’s stock.
In other news, CFO John A. Thorson sold 8,800 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $62.38, for a total value of $548,944.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James J. Schneck sold 47,200 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $58.79, for a total value of $2,774,888.00. Following the completion of the sale, the vice president now owns 6,025 shares of the company’s stock, valued at $354,209.75. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock valued at $3,628,482 over the last 90 days. Company insiders own 4.50% of the company’s stock.
Several equities research analysts have commented on WABC shares. BMO Capital Markets reiterated a “sell” rating and set a $50.00 price objective on shares of Westamerica Bancorporation in a research note on Wednesday, January 24th. BidaskClub lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Maxim Group reiterated a “hold” rating on shares of Westamerica Bancorporation in a research note on Friday, January 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $58.00 price objective on shares of Westamerica Bancorporation in a research note on Friday, December 22nd. Finally, Sandler O’Neill reiterated a “sell” rating and set a $54.00 price objective on shares of Westamerica Bancorporation in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.67.
Shares of WABC stock traded down $2.11 during trading hours on Friday, reaching $56.45. The company had a trading volume of 242,279 shares, compared to its average volume of 141,909. The firm has a market capitalization of $1,500.10, a PE ratio of 24.33 and a beta of 0.97. Westamerica Bancorporation has a 12-month low of $49.38 and a 12-month high of $64.26.
Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $54.03 million during the quarter. Westamerica Bancorporation had a return on equity of 10.30% and a net margin of 26.26%.
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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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