166,557 Shares in Westamerica Bancorporation $WABC Acquired by ProShare Advisors LLC

ProShare Advisors LLC purchased a new position in Westamerica Bancorporation (NASDAQ:WABC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 166,557 shares of the financial services provider’s stock, valued at approximately $9,714,000. ProShare Advisors LLC owned 0.72% of Westamerica Bancorporation as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Man Group plc purchased a new position in Westamerica Bancorporation during the 2nd quarter valued at $5,145,000. Bank of America Corp DE purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth about $4,360,000. Legal & General Group Plc purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth about $3,163,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth about $1,588,000. Finally, WINTON GROUP Ltd boosted its stake in shares of Westamerica Bancorporation by 48.2% during the 2nd quarter. WINTON GROUP Ltd now owns 69,033 shares of the financial services provider’s stock valued at $4,050,000 after purchasing an additional 22,456 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Analysts Set New Price Targets

WABC has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Westamerica Bancorporation from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Westamerica Bancorporation Price Performance

Shares of WABC stock opened at $60.38 on Wednesday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 13.01 and a beta of 0.58. The business’s fifty day moving average is $59.62 and its 200 day moving average is $56.12. Westamerica Bancorporation has a twelve month low of $46.23 and a twelve month high of $63.61. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.18.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Westamerica Bancorporation had a return on equity of 12.80% and a net margin of 41.63%. The business had revenue of $64.05 million during the quarter, compared to the consensus estimate of $63.10 million. During the same quarter in the prior year, the company earned $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, November 2nd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 41.38%.

About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company headquartered in San Rafael, California. Through its principal subsidiary, Westamerica Bank, the company provides community banking services to individuals, businesses and public-sector customers.

Westamerica Bank offers deposit accounts, commercial and consumer lending, residential and commercial real estate loans, construction financing, cash-management services and electronic banking solutions. Its lending and deposit activities are primarily focused on small and midsized businesses, professionals, nonprofit organizations and retail customers.

The company serves communities throughout Northern and Central California through a network of banking offices and digital channels.