Algert Global LLC Sells 19,890 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Algert Global LLC cut its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 30.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,475 shares of the financial services provider’s stock after selling 19,890 shares during the period. Algert Global LLC owned about 0.17% of Westamerica Bancorporation worth $2,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of Westamerica Bancorporation by 124.0% during the first quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock worth $1,301,000 after purchasing an additional 14,738 shares during the last quarter. Victory Capital Management Inc. lifted its position in Westamerica Bancorporation by 58.5% during the 3rd quarter. Victory Capital Management Inc. now owns 34,428 shares of the financial services provider’s stock worth $1,701,000 after buying an additional 12,702 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Westamerica Bancorporation by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock worth $3,064,000 after acquiring an additional 11,674 shares during the last quarter. Versor Investments LP acquired a new stake in Westamerica Bancorporation in the 3rd quarter valued at about $642,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Westamerica Bancorporation by 54.2% during 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 purchasing an additional 45,708 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $57.57 on Wednesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 10.50 and a beta of 0.54. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The business’s 50-day simple moving average is $52.07 and its 200 day simple moving average is $50.60.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.27. The company had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. As a group, research analysts anticipate that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is presently 32.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

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.