Principal Financial Group Inc. Has $6.89 Million Position in Westamerica Bancorporation (NASDAQ:WABC)

Principal Financial Group Inc. lowered its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,496 shares of the financial services provider's stock after selling 10,190 shares during the quarter. Principal Financial Group Inc. owned 0.52% of Westamerica Bancorporation worth $6,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Westamerica Bancorporation by 54.2% in the third quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider's stock worth $6,423,000 after purchasing an additional 45,708 shares during the last quarter. Raymond James & Associates lifted its stake in Westamerica Bancorporation by 8.2% in the third quarter. Raymond James & Associates now owns 63,634 shares of the financial services provider's stock worth $3,145,000 after acquiring an additional 4,841 shares during the period. Inspire Investing LLC lifted its stake in Westamerica Bancorporation by 15.8% in the third quarter. Inspire Investing LLC now owns 8,342 shares of the financial services provider's stock worth $412,000 after acquiring an additional 1,138 shares during the period. CWM LLC raised its holdings in Westamerica Bancorporation by 43.9% in 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. Finally, SG Americas Securities LLC raised its holdings in Westamerica Bancorporation by 261.7% in the third quarter. SG Americas Securities LLC now owns 8,841 shares of the financial services provider's stock worth $437,000 after purchasing an additional 6,397 shares in the last quarter. Institutional investors own 81.89% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $57.00.

Westamerica Bancorporation Stock Down 0.6 %

Shares of Westamerica Bancorporation stock traded down $0.35 on Wednesday, reaching $55.50. 22,982 shares of the company were exchanged, compared to its average volume of 129,843. Westamerica Bancorporation has a 1-year low of $43.82 and a 1-year high of $59.33. The stock's 50 day moving average price is $51.48 and its 200-day moving average price is $50.39. The company has a market cap of $1.48 billion, a P/E ratio of 10.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, hitting analysts' consensus estimates of $1.27. The firm had revenue of $74.07 million for the quarter, compared to the consensus estimate of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. As a group, equities analysts forecast that Westamerica Bancorporation will post 5.17 EPS for the current 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 paid a dividend of $0.44 per share. The ex-dividend date was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.17%. Westamerica Bancorporation's dividend payout ratio is currently 32.06%.

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.