Franklin Resources Inc. Sells 5,546 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Franklin Resources Inc. lessened its stake in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 42.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,573 shares of the financial services provider's stock after selling 5,546 shares during the period. Franklin Resources Inc.'s holdings in Westamerica Bancorporation were worth $397,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its position in Westamerica Bancorporation by 9.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,501 shares of the financial services provider's stock worth $603,000 after purchasing an additional 1,019 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Westamerica Bancorporation in the fourth quarter worth $1,865,000. Norges Bank bought a new stake in Westamerica Bancorporation in the 4th quarter valued at $3,564,000. JPMorgan Chase & Co. boosted its position in shares of Westamerica Bancorporation by 74.7% during the fourth quarter. JPMorgan Chase & Co. now owns 142,330 shares of the financial services provider's stock worth $7,467,000 after buying an additional 60,871 shares during the period. Finally, WINTON GROUP Ltd boosted its position in Westamerica Bancorporation by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 21,619 shares of the financial services provider's stock valued at $1,134,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WABC. Keefe, Bruyette & Woods lowered their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research note on Monday. Piper Sandler lowered their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday.

Westamerica Bancorporation Trading Up 2.1 %

Shares of WABC stock traded up $1.01 on Wednesday, hitting $48.19. 7,656 shares of the company's stock traded hands, compared to its average volume of 128,033. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company's fifty day simple moving average is $48.95 and its 200 day simple moving average is $51.61. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 9.27 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.09 by $0.07. The firm had revenue of $66.71 million during the quarter, compared to analysts' expectations of $66.47 million. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. Equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. Westamerica Bancorporation's dividend payout ratio (DPR) is currently 35.27%.

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.