First Trust Advisors LP Sells 4,690 Shares of Westamerica Bancorporation (WABC)

First Trust Advisors LP cut its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,890 shares of the financial services provider’s stock after selling 4,690 shares during the quarter. First Trust Advisors LP owned 0.21% of Westamerica Bancorporation worth $3,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in shares of Westamerica Bancorporation by 2.3% in the first quarter. Teachers Advisors LLC now owns 55,185 shares of the financial services provider’s stock worth $3,081,000 after buying an additional 1,247 shares during the period. Vanguard Group Inc. boosted its position in shares of Westamerica Bancorporation by 16.1% in the first quarter. Vanguard Group Inc. now owns 2,551,330 shares of the financial services provider’s stock worth $142,440,000 after buying an additional 354,294 shares during the period. Geode Capital Management LLC boosted its position in shares of Westamerica Bancorporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 213,991 shares of the financial services provider’s stock worth $11,946,000 after buying an additional 12,588 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Westamerica Bancorporation by 17.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 156,695 shares of the financial services provider’s stock worth $8,749,000 after buying an additional 22,989 shares during the period. Finally, State Street Corp boosted its position in shares of Westamerica Bancorporation by 17.0% in the first quarter. State Street Corp now owns 857,733 shares of the financial services provider’s stock worth $47,882,000 after buying an additional 124,661 shares during the period. 85.97% of the stock is owned by institutional investors and hedge funds.

In other Westamerica Bancorporation news, SVP Dennis R. Hansen sold 18,400 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.34, for a total transaction of $1,091,856.00. Following the transaction, the senior vice president now directly owns 19,421 shares in the company, valued at $1,152,442.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP James J. Schneck sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.86, for a total value of $353,160.00. Following the transaction, the vice president now owns 6,025 shares in the company, valued at $354,631.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,868 shares of company stock valued at $3,340,734. 4.90% of the stock is owned by corporate insiders.

Shares of Westamerica Bancorporation (NASDAQ WABC) traded down $0.37 during trading hours on Wednesday, hitting $61.06. The company had a trading volume of 47,963 shares, compared to its average volume of 105,312. Westamerica Bancorporation has a twelve month low of $49.38 and a twelve month high of $65.34. The stock has a market capitalization of $1,660.56, a price-to-earnings ratio of 27.40 and a beta of 1.07.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The business had revenue of $45.22 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, November 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 69.57%.

Separately, BidaskClub cut Westamerica Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th.

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About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

Institutional Ownership by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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