Westamerica Bancorporation (NASDAQ:WABC) Holdings Increased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 33.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,480 shares of the financial services provider's stock after buying an additional 5,600 shares during the quarter. Allianz Asset Management GmbH owned 0.08% of Westamerica Bancorporation worth $1,138,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WABC. Denali Advisors LLC bought a new stake in Westamerica Bancorporation during the 1st quarter valued at $897,000. MQS Management LLC purchased a new position in Westamerica Bancorporation in the 1st quarter worth $294,000. Cerity Partners LLC raised its stake in shares of Westamerica Bancorporation by 70.2% during the 1st quarter. Cerity Partners LLC now owns 9,627 shares of the financial services provider's stock valued at $487,000 after buying an additional 3,972 shares during the last quarter. Allworth Financial LP raised its stake in shares of Westamerica Bancorporation by 13.0% during the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after buying an additional 510 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Westamerica Bancorporation by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 8,325 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 362 shares during the period. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Price Performance

Shares of WABC stock traded up $0.56 during trading hours on Monday, hitting $47.42. The company's stock had a trading volume of 17,480 shares, compared to its average volume of 152,194. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97. The business has a fifty day moving average of $48.92 and a 200-day moving average of $49.32. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.92 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.11.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The company had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. As a group, equities research analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 4th. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 38.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on WABC shares. Keefe, Bruyette & Woods lowered their target price on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday, July 21st. Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st.

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.