Invesco Ltd. Lowers Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Invesco Ltd. lessened its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 247,138 shares of the financial services provider's stock after selling 20,769 shares during the quarter. Invesco Ltd. owned about 0.93% of Westamerica Bancorporation worth $12,965,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WABC. Golden State Wealth Management LLC acquired a new stake in Westamerica Bancorporation in the fourth quarter valued at approximately $65,000. KBC Group NV increased its position in shares of Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 822 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 268 shares in the last quarter. Gallacher Capital Management LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter worth $205,000. Finally, One Capital Management LLC acquired a new position in shares of Westamerica Bancorporation during the fourth quarter worth $210,000. Hedge funds and other institutional investors own 81.89% of the company's stock.

Insider Activity

In related news, SVP Robert James Baker, Jr. sold 710 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.30% of the company's stock.

Westamerica Bancorporation Stock Down 0.4 %

NASDAQ:WABC traded down $0.20 during midday trading on Friday, hitting $48.23. 121,022 shares of the company were exchanged, compared to its average volume of 128,509. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The company has a market capitalization of $1.29 billion, a PE ratio of 9.28 and a beta of 0.63. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $48.84 and a 200 day simple moving average of $51.60.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The business had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. As a group, equities analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, May 5th. This is a positive change from Westamerica Bancorporation's previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.82%. Westamerica Bancorporation's dividend payout ratio (DPR) is 35.27%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler cut their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating for the company in a research note on Monday, April 21st.

About Westamerica Bancorporation

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.