American Century Companies Inc. Increases Stock Position in Westamerica Bancorporation $WABC

Key Points

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American Century Companies Inc. boosted its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,847,338 shares of the financial services provider's stock after purchasing an additional 86,850 shares during the quarter. American Century Companies Inc. owned about 6.91% of Westamerica Bancorporation worth $93,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 734 shares in the last quarter. Golden State Wealth Management LLC boosted its position in Westamerica Bancorporation by 100.0% during 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 acquiring an additional 1,245 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Westamerica Bancorporation during the 4th quarter valued at $201,000. Susquehanna Fundamental Investments LLC bought a new stake in Westamerica Bancorporation during the 4th quarter valued at $213,000. Finally, Allworth Financial LP boosted its position in Westamerica Bancorporation by 13.0% during the 1st quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after acquiring an additional 510 shares in the last quarter. Institutional investors own 81.89% of the company's stock.

Wall Street Analyst Weigh In

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

Westamerica Bancorporation Trading Up 4.2%

NASDAQ WABC traded up $2.04 on Friday, reaching $50.74. The stock had a trading volume of 254,544 shares, compared to its average volume of 140,532. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The stock has a fifty day moving average price of $49.07 and a two-hundred day moving average price of $49.03. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.62 and a beta of 0.63.

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 for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. The business had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%. As a group, sell-side analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 4th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, August 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.6%. Westamerica Bancorporation's dividend payout ratio is 38.49%.

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.