Goldman Sachs Group Inc. Raises Position in Westamerica Bancorporation (WABC)

Goldman Sachs Group Inc. increased its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 34.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,975 shares of the financial services provider’s stock after acquiring an additional 22,951 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of Westamerica Bancorporation worth $5,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WABC. BlackRock Inc. grew its position in Westamerica Bancorporation by 2.8% during the 4th quarter. BlackRock Inc. now owns 3,396,214 shares of the financial services provider’s stock worth $202,245,000 after acquiring an additional 91,055 shares during the last quarter. Bank of New York Mellon Corp grew its position in Westamerica Bancorporation by 15.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 571,520 shares of the financial services provider’s stock worth $34,028,000 after acquiring an additional 77,810 shares during the last quarter. American Century Companies Inc. grew its position in Westamerica Bancorporation by 2.1% during the 4th quarter. American Century Companies Inc. now owns 2,292,104 shares of the financial services provider’s stock worth $136,495,000 after acquiring an additional 48,238 shares during the last quarter. New York State Common Retirement Fund grew its position in Westamerica Bancorporation by 127.2% during the 3rd quarter. New York State Common Retirement Fund now owns 64,300 shares of the financial services provider’s stock worth $3,828,000 after acquiring an additional 36,000 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Westamerica Bancorporation by 129.8% during the 4th quarter. Deutsche Bank AG now owns 59,235 shares of the financial services provider’s stock worth $3,525,000 after acquiring an additional 33,459 shares during the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.

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A number of brokerages recently weighed in on WABC. BMO Capital Markets restated a “sell” rating and set a $50.00 price objective on shares of Westamerica Bancorporation in a research report on Wednesday, January 24th. Sandler O’Neill restated a “sell” rating and set a $54.00 price objective on shares of Westamerica Bancorporation in a research report on Thursday, January 4th. BidaskClub lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $60.00 price objective on shares of Westamerica Bancorporation in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.67.

Shares of WABC opened at $56.45 on Friday. The stock has a market cap of $1,554.86, a price-to-earnings ratio of 25.22 and a beta of 0.97. Westamerica Bancorporation has a 12 month low of $49.38 and a 12 month high of $64.26.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.58 EPS for the quarter. The firm had revenue of $54.03 million for the quarter. Westamerica Bancorporation had a return on equity of 10.30% and a net margin of 26.26%.

In other Westamerica Bancorporation news, Director Edward B. Sylvester sold 5,000 shares of Westamerica Bancorporation stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $60.93, for a total transaction of $304,650.00. Following the transaction, the director now directly owns 67,490 shares of the company’s stock, valued at approximately $4,112,165.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James J. Schneck sold 47,200 shares of Westamerica Bancorporation stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $58.79, for a total value of $2,774,888.00. Following the transaction, the vice president now directly owns 6,025 shares in the company, valued at $354,209.75. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $3,628,482 over the last ninety days. Company insiders own 4.50% of the company’s stock.

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Westamerica Bancorporation Company Profile

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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