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American Century Companies Inc. Boosts Stake in Westamerica Bancorporation $WABC

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American Century Companies Inc. lifted its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,847,338 shares of the financial services provider's stock after buying an additional 86,850 shares during the quarter. American Century Companies Inc. owned approximately 6.91% of Westamerica Bancorporation worth $93,531,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Westamerica Bancorporation by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 875,300 shares of the financial services provider's stock worth $45,919,000 after purchasing an additional 9,928 shares in the last quarter. Northern Trust Corp grew its holdings in Westamerica Bancorporation by 17.7% during the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock valued at $20,669,000 after purchasing an additional 59,325 shares during the last quarter. Nuveen LLC bought a new position in Westamerica Bancorporation during the 1st quarter valued at about $17,023,000. Nuveen Asset Management LLC grew its holdings in Westamerica Bancorporation by 18.6% during the 4th 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 last quarter. Finally, Principal Financial Group Inc. grew its stake in Westamerica Bancorporation by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider's stock worth $7,606,000 after acquiring an additional 5,356 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of 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. Wall Street Zen cut shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $52.00.

View Our Latest Research Report on Westamerica Bancorporation

Westamerica Bancorporation Stock Down 0.5%

NASDAQ:WABC traded down $0.26 during midday trading on Thursday, reaching $48.70. 105,524 shares of the stock traded hands, compared to its average volume of 151,863. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The business has a 50-day moving average of $48.98 and a two-hundred day moving average of $49.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.19 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The company had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. On average, equities analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal 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 $0.46 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.8%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 38.49%.

About Westamerica Bancorporation

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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