JPMorgan Chase & Co. Has $4.91 Million Holdings in Westamerica Bancorporation $WABC

Key Points

• JPMorgan Chase lifted its stake in Westamerica Bancorporation by 43.9% in Q3 to 98,266 shares—about $4.91 million, or roughly 0.39% of the company.
• Westamerica beat quarterly estimates (EPS $1.12 vs. $1.07; revenue $63.31M), pays a $0.46 quarterly dividend (≈3.6% yield) and has authorized a $2.0M share buyback (up to ~0.2% of shares).
• Analyst views are mixed—Weiss upgraded to a "buy" while others rate the stock "hold" or "sell," leaving a consensus "Hold" with a $52.50 average price target as the stock trades near $51.83.

JPMorgan Chase & Co. lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 43.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,266 shares of the financial services provider's stock after acquiring an additional 29,964 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of Westamerica Bancorporation worth $4,912,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Westamerica Bancorporation by 6.8% in the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider's stock valued at $938,000 after purchasing an additional 1,183 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Westamerica Bancorporation by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider's stock worth $773,000 after acquiring an additional 642 shares during the period. Jones Financial Companies Lllp bought a new position in Westamerica Bancorporation in the 1st quarter worth $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Westamerica Bancorporation by 9.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider's stock worth $3,243,000 after purchasing an additional 5,293 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Westamerica Bancorporation by 815.8% during the first quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider's stock worth $3,416,000 after acquiring an additional 60,102 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WABC has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Westamerica Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. Wall Street Zen lowered Westamerica Bancorporation from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Westamerica Bancorporation from $53.00 to $55.00 and gave the company a "market perform" rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Westamerica Bancorporation currently has an average rating of "Hold" and a consensus price target of $52.50.

Westamerica Bancorporation Trading Down 0.3%

NASDAQ WABC opened at $51.83 on Friday. The stock has a 50-day simple moving average of $51.20 and a 200 day simple moving average of $49.34. The company has a market capitalization of $1.25 billion, a PE ratio of 11.47 and a beta of 0.57. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $53.48.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings results on Thursday, January 15th. The financial services provider reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.05. The company had revenue of $63.31 million during the quarter, compared to analysts' expectations of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. As a group, sell-side analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 40.71%.

Westamerica Bancorporation declared that its board has initiated a share buyback program on Thursday, December 18th that permits the company to buyback $2.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 0.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Westamerica Bancorporation Company Profile

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.

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