Public Sector Pension Investment Board Sells 2,100 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Public Sector Pension Investment Board reduced its position in Westamerica Bancorporation (NASDAQ:WABC) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,581 shares of the financial services provider’s stock after selling 2,100 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Westamerica Bancorporation worth $2,796,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in Westamerica Bancorporation in the 2nd quarter valued at $36,000. GAMMA Investing LLC raised its position in shares of Westamerica Bancorporation by 13.8% in the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after buying an additional 226 shares in the last quarter. CWM LLC boosted its stake in Westamerica Bancorporation by 16.4% during the second quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock valued at $177,000 after buying an additional 514 shares during the period. Glenmede Trust Co. NA purchased a new position in Westamerica Bancorporation during the third quarter worth about $238,000. Finally, Choreo LLC bought a new position in Westamerica Bancorporation in the 2nd quarter worth about $256,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Westamerica Bancorporation Stock Down 1.0 %

Shares of NASDAQ:WABC opened at $56.12 on Wednesday. The firm has a market capitalization of $1.50 billion, a PE ratio of 10.22 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.26. Westamerica Bancorporation has a 52-week low of $43.82 and a 52-week high of $59.97. The firm has a fifty day moving average of $52.73 and a 200 day moving average of $50.87.

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

Westamerica Bancorporation Dividend Announcement

The firm also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 32.06%.

Westamerica Bancorporation Company 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.