WINTON GROUP Ltd Raises Stock Position in Westamerica Bancorporation $WABC

WINTON GROUP Ltd raised its position in Westamerica Bancorporation (NASDAQ:WABC) by 48.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 69,033 shares of the financial services provider’s stock after acquiring an additional 22,456 shares during the period. WINTON GROUP Ltd’s holdings in Westamerica Bancorporation were worth $4,050,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Westamerica Bancorporation during the 2nd quarter worth approximately $195,706,000. California State Teachers Retirement System lifted its holdings in Westamerica Bancorporation by 7,939.1% in the second quarter. California State Teachers Retirement System now owns 1,529,527 shares of the financial services provider’s stock valued at $89,737,000 after acquiring an additional 1,510,501 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Westamerica Bancorporation in the second quarter worth approximately $12,407,000. Millennium Management LLC grew its position in Westamerica Bancorporation by 101.3% in the third quarter. Millennium Management LLC now owns 399,197 shares of the financial services provider’s stock worth $19,956,000 after acquiring an additional 200,884 shares during the period. Finally, AQR Capital Management LLC increased its stake in Westamerica Bancorporation by 35.9% during the fourth quarter. AQR Capital Management LLC now owns 381,832 shares of the financial services provider’s stock worth $18,263,000 after acquiring an additional 100,867 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

WABC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings cut shares of Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.00.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $59.11 on Friday. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $63.61. The firm has a 50 day moving average price of $59.31 and a 200 day moving average price of $55.96. The company has a market capitalization of $1.37 billion, a PE ratio of 13.02 and a beta of 0.56.

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

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, August 3rd. Westamerica Bancorporation’s payout ratio is currently 42.29%.

About Westamerica Bancorporation

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.