Thrivent Financial for Lutherans Has $918,000 Stake in Westamerica Bancorporation $WABC

Thrivent Financial for Lutherans reduced its holdings in Westamerica Bancorporation (NASDAQ:WABC) by 55.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,369 shares of the financial services provider’s stock after selling 22,471 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Westamerica Bancorporation were worth $918,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of Westamerica Bancorporation by 6.8% in the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 1,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Westamerica Bancorporation by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 642 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Westamerica Bancorporation in the 1st quarter valued at approximately $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $3,243,000 after buying an additional 5,293 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in 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 buying an additional 60,102 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Stock Up 0.1%

Shares of WABC opened at $52.21 on Monday. The firm has a market cap of $1.30 billion, a P/E ratio of 11.55 and a beta of 0.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $53.36. The firm’s 50-day simple moving average is $49.78 and its 200 day simple moving average is $48.84.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, January 15th. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $66.05 million for the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. On average, analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.46 per share. The ex-dividend date was Monday, February 2nd. This represents a $1.84 annualized dividend and a yield of 3.5%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 40.71%.

Westamerica Bancorporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that allows the company to repurchase $2.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 0.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WABC. Keefe, Bruyette & Woods increased their price target on shares of Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Wall Street Zen downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.50.

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.