First Trust Advisors LP Has $1.58 Million Position in Westamerica Bancorporation (WABC)

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First Trust Advisors LP lessened its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 26.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 28,305 shares of the financial services provider’s stock after selling 10,416 shares during the period. First Trust Advisors LP’s holdings in Westamerica Bancorporation were worth $1,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors Inc. raised its holdings in Westamerica Bancorporation by 3.5% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,344 shares of the financial services provider’s stock valued at $353,000 after buying an additional 216 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in Westamerica Bancorporation during the 4th quarter valued at $566,000. LS Investment Advisors LLC raised its holdings in Westamerica Bancorporation by 86.0% during the 4th quarter. LS Investment Advisors LLC now owns 1,453 shares of the financial services provider’s stock valued at $81,000 after buying an additional 672 shares during the last quarter. SG Americas Securities LLC raised its holdings in Westamerica Bancorporation by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 4,710 shares of the financial services provider’s stock valued at $262,000 after buying an additional 2,498 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Westamerica Bancorporation by 17.5% during the 4th quarter. Rhumbline Advisers now owns 82,108 shares of the financial services provider’s stock valued at $4,572,000 after buying an additional 12,215 shares during the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.

NASDAQ:WABC opened at $60.97 on Friday. Westamerica Bancorporation has a 52 week low of $52.05 and a 52 week high of $65.39. The firm has a market cap of $1.67 billion, a P/E ratio of 23.27 and a beta of 1.04.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Westamerica Bancorporation had a net margin of 36.90% and a return on equity of 12.05%. The business had revenue of $50.83 million during the quarter.

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 4,000 shares of the company’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $61.64, for a total value of $246,560.00. Following the completion of the transaction, the senior vice president now directly owns 6,149 shares in the company, valued at approximately $379,024.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John A. Thorson sold 9,167 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $61.69, for a total transaction of $565,512.23. Following the completion of the transaction, the chief financial officer now owns 2,930 shares of the company’s stock, valued at $180,751.70. The disclosure for this sale can be found here. Insiders sold a total of 23,167 shares of company stock valued at $1,443,112 over the last 90 days. Company insiders own 4.40% of the company’s stock.

A number of equities research analysts recently commented on WABC shares. BidaskClub lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. BMO Capital Markets upgraded shares of Westamerica Bancorporation from an “underperform” rating to a “market perform” rating and set a $55.83 price target for the company in a report on Tuesday, December 18th.

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About Westamerica Bancorporation

Westamerica Bancorp operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California. The company provides loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services.

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Want to see what other hedge funds are holding WABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westamerica Bancorporation (NASDAQ:WABC).

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

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