The Manufacturers Life Insurance Company Sells 6,656 Shares of Westamerica Bancorporation (NASDAQ:WABC)

The Manufacturers Life Insurance Company reduced its stake in Westamerica Bancorporation (NASDAQ:WABC) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 257,631 shares of the financial services provider’s stock after selling 6,656 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.97% of Westamerica Bancorporation worth $12,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. grew its holdings in shares of Westamerica Bancorporation by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after purchasing an additional 199,721 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in 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 buying an additional 45,708 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Westamerica Bancorporation by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after buying an additional 41,841 shares during the period. Stieven Capital Advisors L.P. raised its position in shares of Westamerica Bancorporation by 46.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock valued at $5,470,000 after buying an additional 35,912 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Westamerica Bancorporation by 7.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock worth $16,521,000 after acquiring an additional 22,902 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $56.70 on Tuesday. The stock has a market cap of $1.51 billion, a PE ratio of 10.42 and a beta of 0.57. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The business’s 50-day moving average price is $52.61 and its two-hundred day moving average price is $50.82.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly 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. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. The company had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. As a group, analysts expect that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, November 4th. 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.