Westamerica Bancorporation (WABC) Stake Lowered by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 48.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,067 shares of the financial services provider’s stock after selling 28,131 shares during the quarter. Sei Investments Co. owned about 0.11% of Westamerica Bancorporation worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank grew its position in shares of Westamerica Bancorporation by 65.4% during the 2nd quarter. Comerica Bank now owns 68,768 shares of the financial services provider’s stock worth $3,788,000 after buying an additional 27,196 shares during the period. JPMorgan Chase & Co. grew its position in shares of Westamerica Bancorporation by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 917,863 shares of the financial services provider’s stock worth $51,437,000 after buying an additional 20,295 shares during the period. Vanguard Group Inc. grew its position in shares of Westamerica Bancorporation by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,629,587 shares of the financial services provider’s stock worth $147,362,000 after buying an additional 78,257 shares during the period. Bank of New York Mellon Corp grew its position in shares of Westamerica Bancorporation by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,710 shares of the financial services provider’s stock worth $27,667,000 after buying an additional 121,484 shares during the period. Finally, Citigroup Inc. grew its position in shares of Westamerica Bancorporation by 11.2% during the 2nd quarter. Citigroup Inc. now owns 23,376 shares of the financial services provider’s stock worth $1,310,000 after buying an additional 2,355 shares during the period. 85.97% of the stock is owned by institutional investors.

Shares of Westamerica Bancorporation (NASDAQ:WABC) opened at $63.03 on Tuesday. Westamerica Bancorporation has a 52-week low of $49.38 and a 52-week high of $65.34. The stock has a market cap of $1,631.84, a price-to-earnings ratio of 26.93 and a beta of 1.07.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%. The business had revenue of $45.22 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.54%. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.39. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 69.57%.

Separately, BidaskClub downgraded shares of Westamerica Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th.

In related news, VP James J. Schneck sold 6,000 shares of Westamerica Bancorporation stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.86, for a total value of $353,160.00. Following the completion of the sale, the vice president now owns 6,025 shares of the company’s stock, valued at approximately $354,631.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John A. Thorson sold 12,468 shares of Westamerica Bancorporation stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.80, for a total transaction of $733,118.40. Following the completion of the sale, the chief financial officer now directly owns 12,468 shares of the company’s stock, valued at approximately $733,118.40. The disclosure for this sale can be found here. In the last three months, insiders sold 56,868 shares of company stock valued at $3,340,734. 4.90% of the stock is currently owned by insiders.

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Westamerica Bancorporation Company Profile

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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