Bank of New York Mellon Corp Has $12 Million Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Bank of New York Mellon Corp decreased its position in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,035 shares of the financial services provider's stock after selling 10,598 shares during the quarter. Bank of New York Mellon Corp owned 0.89% of Westamerica Bancorporation worth $12,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Westamerica Bancorporation by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 734 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Westamerica Bancorporation by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock valued at $126,000 after purchasing an additional 1,245 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at about $201,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at about $213,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at about $240,000. Institutional investors and hedge funds own 81.89% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler dropped their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, 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 research report on Monday.

Westamerica Bancorporation Stock Down 2.1%

Shares of NASDAQ:WABC traded down $1.05 during midday trading on Thursday, reaching $48.97. The company had a trading volume of 147,664 shares, compared to its average volume of 107,442. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The business's 50 day moving average price is $49.00 and its 200 day moving average price is $49.43. The stock has a market cap of $1.28 billion, a PE ratio of 10.24 and a beta of 0.64. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. The business 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%. Research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.76%. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 38.49%.

Insiders Place Their Bets

In other Westamerica Bancorporation news, SVP John A. Thorson sold 2,243 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $48.57, for a total transaction of $108,942.51. Following the transaction, the senior vice president owned 11,591 shares of the company's stock, valued at $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Westamerica Bancorporation 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.