Deutsche Bank AG Buys Shares of 25,225 Westamerica Bancorporation $WABC

Key Points

• Deutsche Bank initiated a position in Westamerica Bancorporation, purchasing 25,225 shares valued at approximately $1.48 million. Institutional investors collectively own 81.89% of the company.
• Analyst sentiment remains neutral: Westamerica has an average “Hold” rating and a consensus price target of $64, while recent coverage included both an upgrade to Hold and a downgrade to Hold.
• Westamerica reported quarterly earnings of $1.17 per share, exceeding estimates of $1.10, and revenue of $62.77 million. The company maintains a quarterly dividend of $0.48 per share, equivalent to a 3.3% annualized yield.

Deutsche Bank AG bought a new position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,225 shares of the financial services provider's stock, valued at approximately $1,480,000. Deutsche Bank AG owned about 0.11% of Westamerica Bancorporation at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Group AG grew its stake in shares of Westamerica Bancorporation by 279.4% in the 4th quarter. UBS Group AG now owns 457,206 shares of the financial services provider's stock valued at $21,868,000 after buying an additional 336,714 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Westamerica Bancorporation during the second quarter valued at approximately $12,407,000. Millennium Management LLC lifted its stake in Westamerica Bancorporation by 101.3% in the third quarter. Millennium Management LLC now owns 399,197 shares of the financial services provider's stock valued at $19,956,000 after acquiring an additional 200,884 shares during the last quarter. AQR Capital Management LLC lifted its stake in Westamerica Bancorporation by 35.9% in the fourth quarter. AQR Capital Management LLC now owns 381,832 shares of the financial services provider's stock valued at $18,263,000 after acquiring an additional 100,867 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in Westamerica Bancorporation by 46.7% in the fourth quarter. MetLife Investment Management LLC now owns 228,658 shares of the financial services provider's stock worth $10,937,000 after acquiring an additional 72,760 shares in the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WABC has been the topic of several analyst reports. Weiss Ratings lowered shares of Westamerica Bancorporation from a "buy (b)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $64.00.

Westamerica Bancorporation Stock Down 0.3%

Shares of WABC stock opened at $58.07 on Friday. Westamerica Bancorporation has a 12 month low of $44.93 and a 12 month high of $63.61. The company has a market cap of $1.34 billion, a PE ratio of 12.79 and a beta of 0.56. The business's 50 day moving average is $59.35 and its two-hundred day moving average is $55.53.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.07. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. The business had revenue of $62.77 million during the quarter, compared to analysts' expectations of $61.60 million. During the same period in the previous year, the company earned $1.12 earnings per share.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.3%. Westamerica Bancorporation's payout ratio is currently 42.29%.

About Westamerica Bancorporation

Westamerica Bancorporation NASDAQ: WABC is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company's lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.