Sei Investments Co. Sells 9,538 Shares of Westamerica Bancorporation $WABC

Sei Investments Co. lessened its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 36.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 16,727 shares of the financial services provider’s stock after selling 9,538 shares during the quarter. Sei Investments Co.’s holdings in Westamerica Bancorporation were worth $873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WABC. Royal Bank of Canada lifted its stake in shares of Westamerica Bancorporation by 6.8% during the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 1,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Westamerica Bancorporation by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 642 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Westamerica Bancorporation in the first quarter worth $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Westamerica Bancorporation by 9.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider’s stock worth $3,243,000 after purchasing an additional 5,293 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Westamerica Bancorporation by 815.8% during the first quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock worth $3,416,000 after purchasing an additional 60,102 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.6%

WABC opened at $59.93 on Friday. Westamerica Bancorporation has a 12-month low of $44.93 and a 12-month high of $63.61. The business’s fifty day simple moving average is $59.08 and its 200-day simple moving average is $54.97. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.20 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. The firm had revenue of $62.77 million for the quarter, compared to analyst estimates of $61.60 million. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.During the same quarter last year, the firm posted $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.48 per share. 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 42.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WABC. Keefe, Bruyette & Woods boosted their target price on shares of Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Wall Street Zen raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Westamerica Bancorporation in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Westamerica Bancorporation has an average rating of “Moderate Buy” and an average price target of $64.00.

Westamerica Bancorporation Company 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.