Westamerica Bancorporation $WABC Shares Purchased by UBS Group AG

UBS Group AG raised its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 279.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 457,206 shares of the financial services provider’s stock after purchasing an additional 336,714 shares during the period. UBS Group AG’s holdings in Westamerica Bancorporation were worth $21,868,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Westamerica Bancorporation by 0.7% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 32,377 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 213 shares during the period. US Bancorp DE grew its position in shares of Westamerica Bancorporation by 6.3% during the 3rd quarter. US Bancorp DE now owns 4,918 shares of the financial services provider’s stock valued at $246,000 after buying an additional 290 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Westamerica Bancorporation by 201.1% during the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 561 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Westamerica Bancorporation by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 642 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in Westamerica Bancorporation by 1.5% in the third quarter. Dark Forest Capital Management LP now owns 44,092 shares of the financial services provider’s stock worth $2,204,000 after acquiring an additional 643 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WABC. Weiss Ratings raised Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods boosted their price objective on Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a research report on Friday, April 17th. Finally, Wall Street Zen downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Westamerica Bancorporation Stock Down 1.2%

WABC stock opened at $54.19 on Tuesday. The stock has a market cap of $1.31 billion, a PE ratio of 12.07 and a beta of 0.57. The firm’s 50-day simple moving average is $52.40 and its 200 day simple moving average is $50.41. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $56.22.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The firm had revenue of $62.08 million during the quarter, compared to analyst estimates of $60.70 million.

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a dividend of $0.48 per share. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, May 4th. Westamerica Bancorporation’s payout ratio is presently 42.76%.

Insider Transactions at Westamerica Bancorporation

In related news, SVP Robert James Baker, Jr. sold 759 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $53.83, for a total value of $40,856.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is owned by company insiders.

Westamerica Bancorporation 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.