10,324 Shares in Westamerica Bancorporation $WABC Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new stake in Westamerica Bancorporation (NASDAQ:WABC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,324 shares of the financial services provider’s stock, valued at approximately $606,000.

Several other large investors also recently bought and sold shares of WABC. Dimensional Fund Advisors LP grew its holdings in shares of Westamerica Bancorporation by 5.3% during the first quarter. Dimensional Fund Advisors LP now owns 944,699 shares of the financial services provider’s stock worth $49,265,000 after purchasing an additional 47,127 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Westamerica Bancorporation by 59.6% in the 1st quarter. Renaissance Technologies LLC now owns 152,431 shares of the financial services provider’s stock valued at $7,949,000 after purchasing an additional 56,900 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter valued at about $887,000. SG Americas Securities LLC boosted its position in shares of Westamerica Bancorporation by 39.0% in the 1st quarter. SG Americas Securities LLC now owns 45,171 shares of the financial services provider’s stock valued at $2,356,000 after purchasing an additional 12,672 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Westamerica Bancorporation during the 1st quarter worth approximately $1,835,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Down 1.8%

Shares of WABC stock opened at $58.10 on Thursday. The stock’s 50-day moving average price is $59.28 and its 200 day moving average price is $55.23. The stock has a market capitalization of $1.34 billion, a PE ratio of 12.80 and a beta of 0.56. Westamerica Bancorporation has a 52-week low of $44.93 and a 52-week high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $61.60 million. During the same period last year, the firm earned $1.12 EPS.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid 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 was Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is 42.29%.

Analyst Upgrades and Downgrades

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

About Westamerica Bancorporation

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.