Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,496 shares of the financial services provider's stock after selling 10,190 shares during the period. Principal Financial Group Inc. owned about 0.52% of Westamerica Bancorporation worth $6,894,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new position in Westamerica Bancorporation during the second quarter valued at $36,000. Glenmede Trust Co. NA bought a new stake in Westamerica Bancorporation in the 3rd quarter worth approximately $238,000. CWM LLC increased its position in Westamerica Bancorporation by 43.9% during the third quarter. CWM LLC now owns 5,250 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 1,601 shares during the last quarter. Choreo LLC purchased a new stake in shares of Westamerica Bancorporation during the 2nd quarter valued at about $256,000. Finally, SAM Advisors LLC bought a new position in Westamerica Bancorporation in the third quarter worth approximately $336,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Trading Down 0.2 %

WABC traded down $0.09 during trading hours on Wednesday, reaching $52.46. 76,417 shares of the company's stock traded hands, compared to its average volume of 128,059. The firm has a 50-day moving average price of $54.93 and a 200 day moving average price of $51.84. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.40 billion, a PE ratio of 9.56 and a beta of 0.57. Westamerica Bancorporation has a 52-week low of $43.82 and a 52-week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, meeting the consensus estimate of $1.27. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. The business had revenue of $74.07 million during the quarter, compared to analyst estimates of $72.74 million. As a group, sell-side analysts predict that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.35%. Westamerica Bancorporation's dividend payout ratio (DPR) is 32.06%.

Analysts Set New Price Targets

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

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.