Martingale Asset Management L P Acquires 200 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Martingale Asset Management L P lifted its position in Westamerica Bancorporation (NASDAQ:WABC) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,008 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. Martingale Asset Management L P’s holdings in Westamerica Bancorporation were worth $1,335,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA bought a new stake in shares of Westamerica Bancorporation in the third quarter worth about $238,000. FMR LLC increased its holdings in shares of Westamerica Bancorporation by 27.3% in the third quarter. FMR LLC now owns 52,056 shares of the financial services provider’s stock worth $2,573,000 after purchasing an additional 11,173 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Westamerica Bancorporation in the third quarter worth about $848,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Westamerica Bancorporation by 7.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock worth $16,521,000 after purchasing an additional 22,902 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Westamerica Bancorporation by 2.8% in the third quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 191 shares during the last quarter. 81.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

Westamerica Bancorporation Trading Down 0.5 %

Shares of NASDAQ WABC opened at $57.23 on Monday. The business’s 50 day moving average is $52.61 and its two-hundred day moving average is $50.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. Westamerica Bancorporation has a 1-year low of $43.82 and a 1-year high of $59.97. The stock has a market capitalization of $1.53 billion, a P/E ratio of 10.42 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share for the quarter, hitting the consensus estimate of $1.27. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The company had revenue of $74.07 million for the quarter, compared to analysts’ expectations of $72.74 million. As a group, research analysts expect that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.08%. Westamerica Bancorporation’s payout ratio is currently 32.06%.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.