Millennium Management LLC Purchases New Holdings in Westamerica Bancorporation (WABC)

Millennium Management LLC purchased a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,538 shares of the financial services provider’s stock, valued at approximately $389,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Westamerica Bancorporation by 12.3% during the 4th quarter. Wells Fargo & Company MN now owns 72,701 shares of the financial services provider’s stock worth $4,329,000 after buying an additional 7,934 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Westamerica Bancorporation during the 4th quarter worth approximately $532,000. Pinebridge Investments L.P. increased its holdings in shares of Westamerica Bancorporation by 5.7% during the 4th quarter. Pinebridge Investments L.P. now owns 48,325 shares of the financial services provider’s stock worth $2,877,000 after buying an additional 2,591 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Westamerica Bancorporation by 4.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 182,402 shares of the financial services provider’s stock worth $10,863,000 after buying an additional 8,500 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Westamerica Bancorporation by 33.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 16,062 shares of the financial services provider’s stock worth $956,000 after buying an additional 4,027 shares during the last quarter. Institutional investors and hedge funds own 85.16% of the company’s stock.

Westamerica Bancorporation opened at $57.44 on Friday, Marketbeat Ratings reports. The company has a market cap of $1.52 billion, a P/E ratio of 23.66 and a beta of 0.99. Westamerica Bancorporation has a fifty-two week low of $57.14 and a fifty-two week high of $57.28.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. The firm had revenue of $46.00 million during the quarter. Westamerica Bancorporation had a net margin of 27.34% and a return on equity of 10.73%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Monday, May 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%.

A number of brokerages have recently issued reports on WABC. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. BidaskClub downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Monday. BMO Capital Markets lowered their price objective on shares of Westamerica Bancorporation from $52.00 to $50.00 and set an “underperform” rating for the company in a research report on Wednesday, April 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $60.00 price objective on shares of Westamerica Bancorporation in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has a consensus rating of “Sell” and an average target price of $54.67.

In related news, CFO John A. Thorson sold 5,824 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $56.53, for a total transaction of $329,230.72. Following the completion of the transaction, the chief financial officer now owns 5,166 shares of the company’s stock, valued at approximately $292,033.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dennis R. Hansen sold 23,800 shares of the stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $57.34, for a total transaction of $1,364,692.00. Following the transaction, the senior vice president now directly owns 26,120 shares of the company’s stock, valued at approximately $1,497,720.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,624 shares of company stock valued at $1,920,763 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.

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

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