Public Sector Pension Investment Board Buys 10,060 Shares of Westamerica Bancorporation $WABC

Public Sector Pension Investment Board lifted its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,309 shares of the financial services provider’s stock after purchasing an additional 10,060 shares during the period. Public Sector Pension Investment Board’s holdings in Westamerica Bancorporation were worth $4,964,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its holdings in Westamerica Bancorporation by 6.8% during the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 1,183 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 acquiring an additional 642 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Westamerica Bancorporation during the 1st quarter worth $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Westamerica Bancorporation by 9.0% in the 1st 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 worth $3,243,000 after acquiring an additional 5,293 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Westamerica Bancorporation by 815.8% in the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 60,102 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Up 0.8%

WABC stock opened at $52.64 on Friday. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $53.36. The firm has a market capitalization of $1.31 billion, a PE ratio of 11.65 and a beta of 0.62. The company has a quick ratio of 0.29, a current ratio of 0.26 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $50.12 and a two-hundred day simple moving average of $48.96.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. The company had revenue of $66.05 million during the quarter, compared to analyst estimates of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. On average, equities analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation announced that its board has initiated a stock buyback plan on Thursday, December 18th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the financial services provider to buy up to 0.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Westamerica Bancorporation Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods lifted their price objective 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. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of “Hold” and an average target price 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.