Westamerica Bancorporation (NASDAQ:WABC) is Jacobs Asset Management LLC’s 10th Largest Position

Jacobs Asset Management LLC cut its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 25.7% in the third quarter, HoldingsChannel reports. The fund owned 116,250 shares of the financial services provider’s stock after selling 40,251 shares during the period. Westamerica Bancorporation makes up approximately 3.8% of Jacobs Asset Management LLC’s holdings, making the stock its 10th largest holding. Jacobs Asset Management LLC’s holdings in Westamerica Bancorporation were worth $5,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position 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 purchasing an additional 14,738 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Westamerica Bancorporation by 58.5% during 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 acquired a new position in Westamerica Bancorporation in the 3rd quarter valued at about $848,000. Thrivent Financial for Lutherans lifted its position in shares of Westamerica Bancorporation by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock worth $3,064,000 after purchasing an additional 11,674 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Westamerica Bancorporation in the third quarter valued at approximately $642,000. 81.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Westamerica Bancorporation Stock Performance

Shares of Westamerica Bancorporation stock opened at $56.70 on Tuesday. Westamerica Bancorporation has a 52 week low of $43.82 and a 52 week high of $59.97. 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 firm has a fifty day moving average of $52.61 and a two-hundred day moving average of $50.82. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 10.33 and a beta of 0.57.

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

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.10%. Westamerica Bancorporation’s dividend payout ratio is presently 32.06%.

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.