Verition Fund Management LLC Takes $445,000 Position in Westamerica Bancorporation (NASDAQ:WABC)

Verition Fund Management LLC bought a new stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,001 shares of the financial services provider's stock, valued at approximately $445,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in shares of Westamerica Bancorporation by 2.8% during the 3rd quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider's stock worth $347,000 after acquiring an additional 191 shares during the period. Louisiana State Employees Retirement System raised its stake in Westamerica Bancorporation by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider's stock worth $650,000 after purchasing an additional 200 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Westamerica Bancorporation by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 27,008 shares of the financial services provider's stock valued at $1,335,000 after purchasing an additional 200 shares during the last quarter. Algert Global LLC grew its stake in shares of Westamerica Bancorporation by 0.5% during the 2nd quarter. Algert Global LLC now owns 64,365 shares of the financial services provider's stock valued at $3,124,000 after buying an additional 304 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Westamerica Bancorporation by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,948 shares of the financial services provider's stock worth $871,000 after buying an additional 318 shares during the last quarter. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Westamerica Bancorporation Stock Down 0.2 %

Shares of NASDAQ:WABC traded down $0.13 during midday trading on Friday, hitting $55.92. 72,440 shares of the company's stock traded hands, compared to its average volume of 127,703. Westamerica Bancorporation has a twelve month low of $43.82 and a twelve month high of $59.97. The firm's fifty day moving average price is $54.16 and its two-hundred day moving average price is $51.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market cap of $1.49 billion, a PE ratio of 10.19 and a beta of 0.57.

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

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation's dividend payout ratio (DPR) 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.