Victory Capital Management Inc. Sold 82,769 Shares of Westamerica Bancorporation (WABC)

Victory Capital Management Inc. Sold 82,769 Shares of Westamerica Bancorporation (WABC)

Victory Capital Management Inc. decreased its position in Westamerica Bancorporation (NASDAQ:WABC) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,553 shares of the financial services provider’s stock after selling 82,769 shares during the quarter. Victory Capital Management Inc. owned approximately 1.41% of Westamerica Bancorporation worth $22,653,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WABC. Schwab Charles Investment Management Inc. increased its position in Westamerica Bancorporation by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 195,166 shares of the financial services provider’s stock worth $11,029,000 after acquiring an additional 12,047 shares during the period. BlackRock Inc. boosted its stake in Westamerica Bancorporation by 7.1% during the second quarter. BlackRock Inc. now owns 3,703,806 shares of the financial services provider’s stock worth $209,303,000 after buying an additional 246,862 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Westamerica Bancorporation by 318.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,238 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,703 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Westamerica Bancorporation by 3.3% during the first quarter. Principal Financial Group Inc. now owns 203,637 shares of the financial services provider’s stock worth $11,827,000 after buying an additional 6,489 shares in the last quarter. Finally, Comerica Bank boosted its stake in Westamerica Bancorporation by 8.8% during the second quarter. Comerica Bank now owns 77,582 shares of the financial services provider’s stock worth $4,535,000 after buying an additional 6,255 shares in the last quarter. 87.73% of the stock is currently owned by institutional investors.

Shares of NASDAQ:WABC traded up $0.33 on Thursday, hitting $59.30. The stock had a trading volume of 104,400 shares, compared to its average volume of 93,063. Westamerica Bancorporation has a twelve month low of $53.65 and a twelve month high of $64.76. The company has a market capitalization of $1.58 billion, a PE ratio of 23.22 and a beta of 0.98.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, October 18th. The financial services provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.06). Westamerica Bancorporation had a net margin of 28.75% and a return on equity of 11.54%. The firm had revenue of $48.25 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, November 16th. Stockholders of record on Monday, November 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%.

A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. BMO Capital Markets decreased their price target on shares of Westamerica Bancorporation from $50.00 to $47.00 and set an “underperform” rating on the stock in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.67.

About Westamerica Bancorporation

Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.

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