Westamerica Bancorporation $WABC Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 423.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the financial services provider’s stock after buying an additional 17,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of Westamerica Bancorporation worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in shares of Westamerica Bancorporation by 42.6% in the first quarter. Bessemer Group Inc. now owns 636 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 190 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Westamerica Bancorporation during the second quarter valued at approximately $44,000. Fortitude Family Office LLC raised its holdings in Westamerica Bancorporation by 740.4% during the third quarter. Fortitude Family Office LLC now owns 832 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 733 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Westamerica Bancorporation during the second quarter worth approximately $59,000. Finally, PNC Financial Services Group Inc. raised its holdings in Westamerica Bancorporation by 57.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,660 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 605 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $61.28 on Thursday. The stock’s fifty day simple moving average is $59.69 and its 200 day simple moving average is $56.18. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.21 and a beta of 0.58. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.18. Westamerica Bancorporation has a 52-week low of $46.23 and a 52-week high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $64.05 million during the quarter, compared to the consensus estimate of $63.10 million. Westamerica Bancorporation had a return on equity of 12.80% and a net margin of 41.63%. During the same period in the prior year, the business posted $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, November 2nd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 41.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on WABC shares. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on Westamerica Bancorporation from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation is a bank holding company headquartered in San Rafael, California. Through its principal subsidiary, Westamerica Bank, the company provides community banking services to individuals, businesses and public-sector customers.

Westamerica Bank offers deposit accounts, commercial and consumer lending, residential and commercial real estate loans, construction financing, cash-management services and electronic banking solutions. Its lending and deposit activities are primarily focused on small and midsized businesses, professionals, nonprofit organizations and retail customers.

The company serves communities throughout Northern and Central California through a network of banking offices and digital channels.