Westamerica Bancorporation $WABC Stake Lifted by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Westamerica Bancorporation stake by 5.3% in the first quarter, bringing its holdings to 944,699 shares, or approximately 3.91% of the company. Institutional investors collectively own 81.89% of WABC.
• Westamerica exceeded quarterly expectations, reporting $1.17 EPS versus the $1.10 consensus and revenue of $62.77 million versus $61.60 million expected. The stock recently traded at $60.15, near its 52-week high of $63.61.
• The company declared a quarterly dividend of $0.48, equivalent to $1.92 annually and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus with a $64 price target after Keefe, Bruyette & Woods raised its objective to $64.

Dimensional Fund Advisors LP lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 944,699 shares of the financial services provider's stock after acquiring an additional 47,127 shares during the quarter. Dimensional Fund Advisors LP owned about 3.91% of Westamerica Bancorporation worth $49,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WABC. SG Americas Securities LLC raised its stake in shares of Westamerica Bancorporation by 87.4% in the 4th quarter. SG Americas Securities LLC now owns 32,499 shares of the financial services provider's stock worth $1,554,000 after buying an additional 15,157 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Westamerica Bancorporation in the first quarter valued at $1,835,000. UBS Group AG boosted its stake in Westamerica Bancorporation by 279.4% during the fourth quarter. UBS Group AG now owns 457,206 shares of the financial services provider's stock valued at $21,868,000 after buying an additional 336,714 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Westamerica Bancorporation by 92.1% during the fourth quarter. WINTON GROUP Ltd now owns 46,347 shares of the financial services provider's stock valued at $2,217,000 after buying an additional 22,224 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Westamerica Bancorporation during the first quarter worth about $568,000. Institutional investors own 81.89% of the company's stock.

Westamerica Bancorporation Stock Performance

WABC opened at $60.15 on Monday. The firm has a market cap of $1.41 billion, a PE ratio of 13.25 and a beta of 0.56. The company has a quick ratio of 0.22, a current ratio of 0.20 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $58.35 and a 200-day simple moving average of $54.36. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its 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 business had revenue of $62.77 million for the quarter, compared to analysts' expectations 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 firm posted $1.12 EPS.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.2%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 42.29%.

Analysts Set New Price Targets

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

Westamerica Bancorporation Profile

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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