Martingale Asset Management L P Grows Stake in Westamerica Bancorporation (NASDAQ:WABC)

Martingale Asset Management L P lifted its position in Westamerica Bancorporation (NASDAQ:WABC) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,008 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Martingale Asset Management L P owned approximately 0.10% of Westamerica Bancorporation worth $1,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of Westamerica Bancorporation by 124.0% in the 1st quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock worth $1,301,000 after buying an additional 14,738 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Westamerica Bancorporation by 58.5% in the 3rd quarter. Victory Capital Management Inc. now owns 34,428 shares of the financial services provider’s stock worth $1,701,000 after buying an additional 12,702 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Westamerica Bancorporation in the 3rd quarter worth $848,000. Thrivent Financial for Lutherans boosted its stake in shares of Westamerica Bancorporation by 23.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock worth $3,064,000 after buying an additional 11,674 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Westamerica Bancorporation in the 3rd quarter worth $642,000. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $57.23 on Monday. The company has a market capitalization of $1.53 billion, a PE ratio of 10.42 and a beta of 0.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.26. The business’s fifty day moving average is $52.61 and its 200 day moving average is $50.81. Westamerica Bancorporation has a fifty-two week low of $43.82 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share for the quarter, meeting the consensus estimate of $1.27. The company had revenue of $74.07 million for the quarter, compared to the consensus estimate of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. Sell-side analysts predict that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.08%. Westamerica Bancorporation’s dividend payout ratio is presently 32.06%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Westamerica Bancorporation Company 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.