Edgestream Partners L.P. Takes Position in Westamerica Bancorporation $WABC

Edgestream Partners L.P. acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC) during the first quarter, HoldingsChannel reports. The institutional investor acquired 17,007 shares of the financial services provider’s stock, valued at approximately $887,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Westamerica Bancorporation by 6.8% in the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 1,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Westamerica Bancorporation by 4.4% during the 1st 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 last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Westamerica Bancorporation during the 1st quarter worth about $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Westamerica Bancorporation by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider’s stock worth $3,243,000 after buying an additional 5,293 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Westamerica Bancorporation by 815.8% in the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock worth $3,416,000 after acquiring an additional 60,102 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WABC shares. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Keefe, Bruyette & Woods lifted their price objective on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Westamerica Bancorporation Price Performance

WABC stock opened at $60.42 on Wednesday. The company has a market cap of $1.42 billion, a PE ratio of 13.31 and a beta of 0.56. The company has a current ratio of 0.20, a quick ratio of 0.22 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $58.54 and a two-hundred day moving average price of $54.53. Westamerica Bancorporation has a 12-month low of $44.93 and a 12-month high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. The business had revenue of $62.77 million for the quarter, compared to analyst estimates of $61.60 million. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.During the same period in the previous year, the company posted $1.12 EPS.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.48 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.92 annualized dividend and a dividend yield of 3.2%. Westamerica Bancorporation’s dividend payout ratio is presently 42.29%.

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.