Nisa Investment Advisors LLC Lowers Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Nisa Investment Advisors LLC decreased its position in Westamerica Bancorporation (NASDAQ:WABC) by 93.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 543 shares of the financial services provider’s stock after selling 8,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Westamerica Bancorporation were worth $27,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WABC. Sei Investments Co. raised its stake in Westamerica Bancorporation by 21.7% in the first quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock worth $5,936,000 after buying an additional 21,624 shares in the last quarter. Janus Henderson Group PLC raised its stake in Westamerica Bancorporation by 124.0% in the first quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock worth $1,301,000 after buying an additional 14,738 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Westamerica Bancorporation by 70.2% in the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock worth $12,326,000 after buying an additional 104,029 shares in the last quarter. Entropy Technologies LP bought a new position in Westamerica Bancorporation in the first quarter worth approximately $258,000. Finally, Assenagon Asset Management S.A. raised its stake in Westamerica Bancorporation by 54.2% in the third quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider’s stock worth $6,423,000 after buying an additional 45,708 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Maxim Group downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Piper Sandler upped their price target on Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, StockNews.com raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.00.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $56.76 on Friday. The firm has a market capitalization of $1.51 billion, a PE ratio of 10.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.25. The company’s fifty day moving average price is $50.53 and its 200-day moving average price is $49.90. Westamerica Bancorporation has a 1-year low of $43.82 and a 1-year high of $59.02.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.44 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 3.10%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

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.