Voya Investment Management LLC Raises Holdings in Westamerica Bancorporation $WABC

Key Points

• Voya Investment Management LLC increased its holding in Westamerica Bancorporation by 54.6%, acquiring an additional 14,362 shares to own a total of 40,654 shares valued at approximately $2.06 million.
• The company declared a quarterly dividend of $0.46 per share, resulting in an annualized dividend of $1.84 and a yield of 3.7%.
• Westamerica Bancorporation's stock has seen a price range between $42.00 and $59.97 over the past year, with a market capitalization of $1.25 billion.

Voya Investment Management LLC increased its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 54.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,654 shares of the financial services provider's stock after acquiring an additional 14,362 shares during the period. Voya Investment Management LLC owned about 0.16% of Westamerica Bancorporation worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in Westamerica Bancorporation by 4.9% in the first quarter. American Century Companies Inc. now owns 1,847,338 shares of the financial services provider's stock valued at $93,531,000 after purchasing an additional 86,850 shares during the period. Nuveen LLC acquired a new stake in Westamerica Bancorporation in the first quarter valued at approximately $17,023,000. Nuveen Asset Management LLC grew its holdings in Westamerica Bancorporation by 18.6% in the fourth quarter. Nuveen Asset Management LLC now owns 334,637 shares of the financial services provider's stock valued at $17,555,000 after purchasing an additional 52,399 shares during the period. Principal Financial Group Inc. grew its holdings in Westamerica Bancorporation by 3.7% in the first quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider's stock valued at $7,606,000 after purchasing an additional 5,356 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Westamerica Bancorporation by 4,946.6% in the first quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock valued at $5,534,000 after purchasing an additional 107,144 shares during the period. 81.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WABC has been the topic of a number of research analyst reports. Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Keefe, Bruyette & Woods lowered their price target on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $52.00.

Westamerica Bancorporation Trading Down 0.5%

Shares of WABC stock traded down $0.27 on Monday, hitting $48.85. The stock had a trading volume of 153,591 shares, compared to its average volume of 158,998. 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 $1.24 billion, a P/E ratio of 10.22 and a beta of 0.65. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The company's 50 day moving average price is $49.20 and its 200-day moving average price is $48.86.

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

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, August 4th. This represents a $1.84 annualized dividend and a yield of 3.8%. Westamerica Bancorporation's dividend payout ratio is 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.