Assenagon Asset Management S.A. Purchases 45,708 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Assenagon Asset Management S.A. lifted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 54.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 129,976 shares of the financial services provider's stock after purchasing an additional 45,708 shares during the period. Assenagon Asset Management S.A. owned about 0.49% of Westamerica Bancorporation worth $6,423,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Westamerica Bancorporation by 10.5% during the first quarter. Principal Financial Group Inc. now owns 153,301 shares of the financial services provider's stock valued at $7,493,000 after buying an additional 14,602 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Westamerica Bancorporation by 14.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 33,904 shares of the financial services provider's stock worth $1,657,000 after acquiring an additional 4,328 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Westamerica Bancorporation by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 20,244 shares of the financial services provider's stock worth $990,000 after purchasing an additional 4,122 shares during the period. Texas Permanent School Fund Corp lifted its position in Westamerica Bancorporation by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 23,342 shares of the financial services provider's stock valued at $1,141,000 after purchasing an additional 321 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Westamerica Bancorporation during the first quarter valued at approximately $113,000. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Trading Down 1.1 %

WABC stock traded down $0.60 on Tuesday, reaching $51.91. The company's stock had a trading volume of 57,687 shares, compared to its average volume of 130,464. The firm has a market cap of $1.39 billion, a PE ratio of 9.46 and a beta of 0.55. The business has a fifty day simple moving average of $50.08 and a two-hundred day simple moving average of $49.50. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $58.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.25 and a current ratio of 0.26.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be given a $0.44 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. Westamerica Bancorporation's dividend payout ratio is 32.06%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WABC. Maxim Group downgraded shares of Westamerica Bancorporation from a "buy" rating to a "hold" rating in a research note on Monday, July 22nd. Piper Sandler boosted their price objective on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the company a "neutral" rating in a research report on Friday, July 19th. Finally, StockNews.com upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $57.00.

Westamerica Bancorporation Profile

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.