Vanguard Group Inc. Has $174.41 Million Stock Holdings in Westamerica Bancorporation $WABC

Key Points

• Vanguard Group Inc. reduced its holdings in Westamerica Bancorporation by 1.7%, now owning approximately 12.89% of the company, with a total worth of $174.4 million.
• Wall Street analysts have lowered their ratings on Westamerica Bancorporation, with Wall Street Zen downgrading it from "hold" to "sell" and a price target dropping from $55 to $54.
• The company recently announced a quarterly dividend of $0.46, representing an annualized yield of 3.8%, with a dividend payout ratio of 38.49%.

Vanguard Group Inc. trimmed its position in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,444,875 shares of the financial services provider's stock after selling 60,620 shares during the period. Vanguard Group Inc. owned approximately 12.89% of Westamerica Bancorporation worth $174,414,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Westamerica Bancorporation by 3.7% during the first quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider's stock valued at $7,606,000 after acquiring an additional 5,356 shares during the period. GAMMA Investing LLC lifted its stake in shares of Westamerica Bancorporation by 4,946.6% in the first quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider's stock valued at $5,534,000 after buying an additional 107,144 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Westamerica Bancorporation by 15.1% in the fourth quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider's stock valued at $3,232,000 after buying an additional 8,100 shares during the period. Deutsche Bank AG lifted its stake in shares of Westamerica Bancorporation by 58.0% in the fourth quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider's stock valued at $1,192,000 after buying an additional 8,342 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at about $240,000. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Price Performance

NASDAQ:WABC traded down $0.73 during mid-day trading on Monday, hitting $50.01. The company's stock had a trading volume of 96,285 shares, compared to its average volume of 147,822. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.46 and a beta of 0.63. The stock has a fifty day moving average of $49.14 and a 200-day moving average of $48.99.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The firm had revenue of $64.88 million during the quarter, compared to analyst estimates of $65.80 million. As a group, equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 4th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 4th. Westamerica Bancorporation's dividend payout ratio is 38.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WABC shares. 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 reduced 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $52.00.

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.