53,910 Shares in Westamerica Bancorporation $WABC Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,910 shares of the financial services provider’s stock, valued at approximately $3,163,000.

A number of other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Westamerica Bancorporation in the second quarter worth about $1,588,000. Bank of America Corp DE grew its stake in Westamerica Bancorporation by 48.0% in the 1st quarter. Bank of America Corp DE now owns 86,384 shares of the financial services provider’s stock worth $4,505,000 after acquiring an additional 28,009 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Westamerica Bancorporation in the second quarter valued at about $1,480,000. Dimensional Fund Advisors LP lifted its position in shares of Westamerica Bancorporation by 5.3% in the 1st 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 period. Finally, Renaissance Technologies LLC boosted its position in Westamerica Bancorporation by 59.6% during the 1st quarter. Renaissance Technologies LLC now owns 152,431 shares of the financial services provider’s stock valued at $7,949,000 after acquiring an additional 56,900 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Up 0.5%

Shares of Westamerica Bancorporation stock opened at $59.39 on Friday. The firm has a market cap of $1.37 billion, a PE ratio of 13.08 and a beta of 0.56. Westamerica Bancorporation has a 52 week low of $44.93 and a 52 week high of $63.61. The business’s fifty day simple moving average is $59.34 and its 200-day simple moving average is $55.76.

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

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.48 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.92 dividend on an annualized basis and a yield of 3.2%. Westamerica Bancorporation’s dividend payout ratio is 42.29%.

Analyst Ratings Changes

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

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.