Invesco Ltd. Has $11.88 Million Stock Holdings in Westamerica Bancorporation $WABC

Key Points

• Invesco Ltd. has reduced its holdings in Westamerica Bancorporation by 5.1%, now owning 234,597 shares worth approximately $11.88 million.
• Westamerica Bancorporation reported earnings of $1.12 per share, slightly exceeding expectations, but revenue was below analyst estimates at $64.88 million.
• The company has recently announced a quarterly dividend of $0.46 per share, yielding a total annualized dividend of $1.84 with a payout ratio of 38.49%.

Invesco Ltd. lowered its stake in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,597 shares of the financial services provider's stock after selling 12,541 shares during the period. Invesco Ltd. owned approximately 0.88% of Westamerica Bancorporation worth $11,878,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Westamerica Bancorporation by 4,946.6% during the first quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock worth $5,534,000 after purchasing an additional 107,144 shares in the last quarter. Invenomic Capital Management LP purchased a new position in shares of Westamerica Bancorporation during the 4th quarter worth $5,437,000. Raymond James Financial Inc. purchased a new position in shares of Westamerica Bancorporation during the 4th quarter worth $3,647,000. Northern Trust Corp lifted its stake in shares of Westamerica Bancorporation by 17.7% during the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock worth $20,669,000 after purchasing an additional 59,325 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of 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 buying an additional 52,399 shares during the period. Hedge funds and other institutional investors own 81.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WABC. Wall Street Zen cut shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods decreased their target price on shares of 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.00.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock traded down $0.02 during mid-day trading on Friday, hitting $50.01. 262,540 shares of the company's stock traded hands, compared to its average volume of 143,840. The firm has a 50 day moving average price of $49.46 and a 200 day moving average price of $49.00. 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 company has a market cap of $1.27 billion, a PE ratio of 10.46 and a beta of 0.63. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly 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 firm had revenue of $64.88 million during 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%. On average, equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were paid 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 yield of 3.7%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 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.