Westamerica Bancorporation (NASDAQ:WABC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 139,496 shares of the financial services provider’s stock after selling 10,190 shares during the period. Principal Financial Group Inc.’s holdings in Westamerica Bancorporation were worth $6,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WABC. SG Americas Securities LLC acquired a new stake in Westamerica Bancorporation in the first quarter worth about $113,000. ProShare Advisors LLC lifted its stake in shares of Westamerica Bancorporation by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 5,238 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 357 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Westamerica Bancorporation by 31.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,754 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 2,360 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Westamerica Bancorporation by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,512,538 shares of the financial services provider’s stock valued at $171,693,000 after purchasing an additional 19,654 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Westamerica Bancorporation by 5.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock valued at $204,000 after buying an additional 221 shares during the period. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Price Performance

WABC stock opened at $55.85 on Wednesday. The firm has a 50-day moving average of $51.48 and a two-hundred day moving average of $50.39. The firm has a market capitalization of $1.49 billion, a PE ratio of 10.17 and a beta of 0.54. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $59.33.

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

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Monday, November 4th. Westamerica Bancorporation’s payout ratio is presently 32.06%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $57.00.

About Westamerica Bancorporation

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.