Leeward Investments LLC MA Cuts Position in Westamerica Bancorporation $WABC

Leeward Investments LLC MA reduced its stake in Westamerica Bancorporation (NASDAQ:WABC) by 4.3% in Q2, now holding 145,870 shares valued at $7.07 million. Other institutional investors also adjusted their positions. Analysts have set a consensus target price of $52.00 for WABC, which opened at $48.39. The company reported a quarterly EPS of $1.12, exceeding estimates, and announced a dividend of $0.46 payable on November 14th. Westamerica Bancorporation operates as a bank holding company providing various banking services.

Leeward Investments LLC MA lessened its holdings in Westamerica Bancorporation (NASDAQ:WABC - Free Report) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 145,870 shares of the financial services provider's stock after selling 6,572 shares during the quarter. Leeward Investments LLC MA owned about 0.56% of Westamerica Bancorporation worth $7,066,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WABC. Envestnet Asset Management Inc. grew its holdings in shares of Westamerica Bancorporation by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 8,325 shares of the financial services provider's stock valued at $421,000 after buying an additional 362 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Westamerica Bancorporation by 13.0% during the first quarter. Allworth Financial LP now owns 4,426 shares of the financial services provider's stock valued at $214,000 after buying an additional 510 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Westamerica Bancorporation by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider's stock valued at $773,000 after buying an additional 642 shares during the last quarter. US Bancorp DE grew its holdings in shares of Westamerica Bancorporation by 19.9% during the first quarter. US Bancorp DE now owns 4,698 shares of the financial services provider's stock valued at $238,000 after buying an additional 780 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Westamerica Bancorporation by 5.3% during the second quarter. State of Alaska Department of Revenue now owns 15,579 shares of the financial services provider's stock valued at $753,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research report on Monday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Westamerica Bancorporation in a research report on Friday. Finally, Wall Street Zen upgraded shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research report on Monday, October 20th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.00.

Check Out Our Latest Report on WABC

Westamerica Bancorporation Stock Performance

Shares of NASDAQ:WABC opened at $48.39 on Monday. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The stock has a market capitalization of $1.23 billion, a P/E ratio of 10.54 and a beta of 0.61. The firm has a fifty day simple moving average of $48.65 and a two-hundred day simple moving average of $48.59. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.14.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.04. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. The business had revenue of $64.00 million during the quarter, compared to analysts' expectations of $64.20 million. On average, analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 3rd. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 40.09%.

About Westamerica Bancorporation

(Free Report)

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.

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