Denali Advisors LLC Sells 86,700 Shares of Westamerica Bancorporation $WABC

Denali Advisors LLC trimmed its position in Westamerica Bancorporation (NASDAQ:WABC) by 83.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,800 shares of the financial services provider’s stock after selling 86,700 shares during the quarter. Denali Advisors LLC’s holdings in Westamerica Bancorporation were worth $851,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WABC. CANADA LIFE ASSURANCE Co boosted its position in Westamerica Bancorporation by 0.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 32,377 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 213 shares during the period. US Bancorp DE increased its position in shares of Westamerica Bancorporation by 6.3% in the third quarter. US Bancorp DE now owns 4,918 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 290 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Westamerica Bancorporation by 201.1% during the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 561 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Westamerica Bancorporation by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 642 shares during the period. Finally, Dark Forest Capital Management LP boosted its holdings in shares of Westamerica Bancorporation by 1.5% during the third quarter. Dark Forest Capital Management LP now owns 44,092 shares of the financial services provider’s stock worth $2,204,000 after purchasing an additional 643 shares during the period. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Trading Down 0.0%

NASDAQ:WABC opened at $54.85 on Friday. The company has a 50-day moving average price of $52.32 and a 200-day moving average price of $50.30. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 12.22 and a beta of 0.57. Westamerica Bancorporation has a 12 month low of $44.93 and a 12 month high of $56.22.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The company had revenue of $62.08 million during the quarter, compared to the consensus estimate of $60.70 million.

Westamerica Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be given a $0.48 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.92 annualized dividend and a dividend yield of 3.5%. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.46. Westamerica Bancorporation’s dividend payout ratio is currently 42.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WABC shares. Weiss Ratings upgraded Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods boosted their target price on Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Insider Activity

In other news, SVP Robert James Baker, Jr. sold 759 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $53.83, for a total value of $40,856.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.