Charles Schwab Investment Management Inc. Reduces Holdings in Westamerica Bancorporation $WABC

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Westamerica Bancorporation by 6.9% during the first quarter, bringing their total holdings to 253,953 shares valued at approximately $12.86 million.
• Wall Street Zen downgraded Westamerica Bancorporation from a "hold" to a "sell" rating, highlighting a shift in analyst sentiment regarding the stock's performance.
• Westamerica Bancorporation recently declared a quarterly dividend of $0.46, translating to an annualized yield of 3.6%, with a dividend payout ratio of 38.49%.

Charles Schwab Investment Management Inc. trimmed its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 253,953 shares of the financial services provider's stock after selling 18,872 shares during the period. Charles Schwab Investment Management Inc. owned 0.95% of Westamerica Bancorporation worth $12,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WABC. Envestnet Asset Management Inc. lifted its holdings in Westamerica Bancorporation by 4.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 8,325 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 362 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Westamerica Bancorporation by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,619 shares of the financial services provider's stock valued at $767,000 after purchasing an additional 510 shares in the last quarter. Allworth Financial LP lifted its holdings in Westamerica Bancorporation by 13.0% in the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after purchasing an additional 510 shares in the last quarter. US Bancorp DE lifted its holdings in Westamerica Bancorporation by 19.9% in the 1st quarter. US Bancorp DE now owns 4,698 shares of the financial services provider's stock valued at $238,000 after purchasing an additional 780 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Westamerica Bancorporation by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 15,607 shares of the financial services provider's stock valued at $819,000 after purchasing an additional 856 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WABC. Keefe, Bruyette & Woods decreased their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Monday, July 21st. Wall Street Zen cut shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.00.

Westamerica Bancorporation Trading Down 0.0%

NASDAQ WABC traded down $0.02 during mid-day trading on Friday, hitting $50.01. The company's stock had a trading volume of 262,540 shares, compared to its average volume of 143,840. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The stock's fifty day simple moving average is $49.46 and its two-hundred day simple moving average is $49.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $1.27 billion, a P/E ratio of 10.46 and a beta of 0.63.

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

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were issued a $0.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.7%. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 38.49%.

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.