Westamerica Bancorporation $WABC Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 48.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,384 shares of the financial services provider's stock after buying an additional 28,009 shares during the period. Bank of America Corp DE owned approximately 0.37% of Westamerica Bancorporation worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Westamerica Bancorporation by 42.6% in the 1st quarter. Bessemer Group Inc. now owns 636 shares of the financial services provider's stock worth $33,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Westamerica Bancorporation by 354.3% during the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider's stock valued at $41,000 after buying an additional 666 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Westamerica Bancorporation by 49.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider's stock valued at $50,000 after buying an additional 351 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Westamerica Bancorporation by 7,286.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider's stock valued at $53,000 after buying an additional 1,093 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Westamerica Bancorporation by 10,335.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the financial services provider's stock valued at $70,000 after buying an additional 1,447 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $58.07 on Friday. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $63.61. The firm has a market capitalization of $1.34 billion, a PE ratio of 12.79 and a beta of 0.56. The stock's 50-day simple moving average is $59.35 and its 200-day simple moving average is $55.53.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.07. The firm had revenue of $62.77 million for the quarter, compared to the consensus estimate of $61.60 million. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.During the same quarter last year, the business posted $1.12 EPS.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 3rd. Westamerica Bancorporation's payout ratio is 42.29%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Weiss Ratings lowered Westamerica Bancorporation from a "buy (b)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of "Hold" and an average price target of $64.00.

About Westamerica Bancorporation

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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