Westamerica Bancorporation (NASDAQ:WABC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 68.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,459 shares of the financial services provider's stock after purchasing an additional 32,981 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.31% of Westamerica Bancorporation worth $4,026,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Westamerica Bancorporation during the 2nd quarter valued at about $36,000. Glenmede Trust Co. NA purchased a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at approximately $238,000. CWM LLC lifted its stake in Westamerica Bancorporation by 43.9% during the third quarter. CWM LLC now owns 5,250 shares of the financial services provider's stock worth $259,000 after purchasing an additional 1,601 shares in the last quarter. Intech Investment Management LLC acquired a new position in Westamerica Bancorporation during the 2nd quarter worth about $332,000. Finally, SAM Advisors LLC acquired a new stake in shares of Westamerica Bancorporation during the third quarter worth about $336,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Thursday, October 17th.

Westamerica Bancorporation Stock Up 2.0 %

Shares of WABC traded up $1.05 during mid-day trading on Friday, reaching $52.41. The company's stock had a trading volume of 139,829 shares, compared to its average volume of 104,694. The stock has a market cap of $1.40 billion, a PE ratio of 9.55 and a beta of 0.58. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. The company's 50 day moving average is $54.49 and its 200 day moving average is $52.13.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. During the same quarter last year, the business earned $1.48 EPS. Equities analysts anticipate that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation's payout ratio is currently 32.06%.

About Westamerica Bancorporation

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.