Westamerica Bancorporation $WABC Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,982 shares of the financial services provider's stock after acquiring an additional 51,148 shares during the quarter. First Trust Advisors LP owned 0.56% of Westamerica Bancorporation worth $6,831,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WABC. PNC Financial Services Group Inc. grew its stake in Westamerica Bancorporation by 57.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,660 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 605 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Westamerica Bancorporation by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 944,699 shares of the financial services provider's stock valued at $49,265,000 after buying an additional 47,127 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Westamerica Bancorporation by 42.6% in the 1st quarter. Bessemer Group Inc. now owns 636 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 190 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Westamerica Bancorporation by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 209,513 shares of the financial services provider's stock worth $10,926,000 after buying an additional 962 shares during the period. Finally, Principal Financial Group Inc. raised its position in Westamerica Bancorporation by 3.9% during the first quarter. Principal Financial Group Inc. now owns 151,149 shares of the financial services provider's stock worth $7,882,000 after acquiring an additional 5,616 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Price Performance

WABC opened at $60.15 on Monday. The stock's 50-day moving average price is $58.35 and its 200 day moving average price is $54.36. Westamerica Bancorporation has a 12-month low of $44.93 and a 12-month high of $63.61. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 13.25 and a beta of 0.56. The company has a current ratio of 0.20, a quick ratio of 0.22 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. The company had revenue of $62.77 million during 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 period in the previous year, the company posted $1.12 EPS.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 3rd. Westamerica Bancorporation's dividend payout ratio is presently 42.29%.

Analyst Ratings Changes

WABC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of Westamerica Bancorporation in a report on Wednesday. Finally, Wall Street Zen upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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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