Odyssean LLC Takes Position in Westamerica Bancorporation $WABC

Odyssean LLC purchased a new stake in Westamerica Bancorporation (NASDAQ:WABC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,167 shares of the financial services provider’s stock, valued at approximately $714,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 worth $33,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Westamerica Bancorporation by 354.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 666 shares in the last quarter. Global Retirement Partners LLC acquired a new position in Westamerica Bancorporation in the 2nd quarter worth approximately $44,000. PNC Financial Services Group Inc. grew its position in Westamerica Bancorporation by 49.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 351 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Westamerica Bancorporation by 7,286.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Performance

WABC opened at $58.14 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of 12.81 and a beta of 0.56. The business has a 50 day moving average price of $59.33 and a 200 day moving average price of $55.47. Westamerica Bancorporation has a twelve month low of $44.93 and a twelve month high of $63.61.

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. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.The company had revenue of $62.77 million for the quarter, compared to the consensus estimate of $61.60 million. During the same quarter last year, the company posted $1.12 earnings per share.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 42.29%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Keefe, Bruyette & Woods lifted their target price on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Finally, Weiss Ratings lowered shares of Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.