Thrivent Financial for Lutherans Sells 26,126 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Thrivent Financial for Lutherans cut its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 34.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 50,316 shares of the financial services provider’s stock after selling 26,126 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Westamerica Bancorporation were worth $2,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WABC. EntryPoint Capital LLC purchased a new position in Westamerica Bancorporation during the 1st quarter valued at $75,000. GAMMA Investing LLC increased its position in shares of Westamerica Bancorporation by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after buying an additional 226 shares during the period. SG Americas Securities LLC bought a new position in Westamerica Bancorporation in the first quarter worth about $113,000. SageView Advisory Group LLC purchased a new stake in Westamerica Bancorporation in the first quarter worth about $140,000. Finally, CWM LLC boosted its position in Westamerica Bancorporation by 248.3% during the 1st quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 2,235 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WABC shares. StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Maxim Group lowered Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Piper Sandler upped their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of “Hold” and an average target price of $57.00.

Westamerica Bancorporation Stock Performance

Shares of WABC opened at $49.42 on Tuesday. Westamerica Bancorporation has a 52 week low of $42.28 and a 52 week high of $58.49. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.32 billion, a P/E ratio of 8.35 and a beta of 0.55. The business’s 50 day moving average price is $50.63 and its 200-day moving average price is $49.19.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, July 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.30 by $0.03. The business had revenue of $79.57 million for the quarter, compared to the consensus estimate of $74.28 million. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. Equities research analysts anticipate that Westamerica Bancorporation will post 5.2 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.56%. Westamerica Bancorporation’s dividend payout ratio is currently 29.73%.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for the 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.