Atlanta Capital Management Co. L L C trimmed its position in Westamerica Bancorporation (NASDAQ:WABC) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,252,084 shares of the financial services provider’s stock after selling 20,918 shares during the period. Atlanta Capital Management Co. L L C owned 8.52% of Westamerica Bancorporation worth $134,111,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Amalgamated Bank bought a new position in Westamerica Bancorporation in the third quarter worth about $204,000. Janney Montgomery Scott LLC bought a new position in Westamerica Bancorporation in the third quarter worth about $229,000. Crossmark Global Holdings Inc. bought a new position in Westamerica Bancorporation in the third quarter worth about $305,000. Teacher Retirement System of Texas bought a new position in Westamerica Bancorporation in the fourth quarter worth about $532,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in Westamerica Bancorporation by 59.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,870 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.
A number of equities analysts have issued reports on WABC shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 target price on shares of Westamerica Bancorporation in a report on Friday, December 22nd. BidaskClub cut shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Maxim Group reissued a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. BMO Capital Markets reissued a “sell” rating and issued a $50.00 target price on shares of Westamerica Bancorporation in a report on Wednesday, January 24th. Finally, Sandler O’Neill reissued a “sell” rating and issued a $54.00 target price on shares of Westamerica Bancorporation in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $54.00.
Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $54.03 million for the quarter. Westamerica Bancorporation had a net margin of 26.26% and a return on equity of 10.30%.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 84.21%.
In other news, CFO John A. Thorson sold 8,800 shares of Westamerica Bancorporation stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $62.38, for a total transaction of $548,944.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James J. Schneck sold 47,200 shares of Westamerica Bancorporation stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $58.79, for a total value of $2,774,888.00. Following the sale, the vice president now directly owns 6,025 shares in the company, valued at approximately $354,209.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,000 shares of company stock worth $3,628,482. Corporate insiders own 4.90% of the company’s stock.
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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.
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