Invesco Ltd. Cuts Stock Position in Westamerica Bancorporation (NASDAQ:WABC)

Invesco Ltd. cut its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,138 shares of the financial services provider's stock after selling 20,769 shares during the quarter. Invesco Ltd. owned about 0.93% of Westamerica Bancorporation worth $12,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WABC. WINTON GROUP Ltd raised its holdings in shares of Westamerica Bancorporation by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 21,619 shares of the financial services provider's stock worth $1,134,000 after buying an additional 227 shares during the period. GAMMA Investing LLC increased its stake in Westamerica Bancorporation by 14.1% in the fourth quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after purchasing an additional 268 shares during the period. Swiss National Bank increased its stake in Westamerica Bancorporation by 0.8% in the fourth quarter. Swiss National Bank now owns 52,500 shares of the financial services provider's stock worth $2,754,000 after purchasing an additional 400 shares during the period. KBC Group NV lifted its position in shares of Westamerica Bancorporation by 71.4% during the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock worth $104,000 after purchasing an additional 822 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Westamerica Bancorporation by 9.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,501 shares of the financial services provider's stock valued at $603,000 after purchasing an additional 1,019 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Up 1.2 %

Shares of WABC traded up $0.57 during midday trading on Wednesday, reaching $47.75. 149,547 shares of the stock were exchanged, compared to its average volume of 128,582. The company has a market capitalization of $1.28 billion, a P/E ratio of 9.18 and a beta of 0.63. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The company's 50 day moving average is $48.91 and its two-hundred day moving average is $51.58.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The company had revenue of $66.71 million for the quarter, compared to analysts' expectations of $66.47 million. On average, sell-side analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Monday, February 3rd. Westamerica Bancorporation's dividend payout ratio (DPR) is 35.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WABC shares. Keefe, Bruyette & Woods reduced their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research note on Monday. Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday.

Westamerica Bancorporation Company 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.