Algert Global LLC Sells 19,890 Shares of Westamerica Bancorporation (NASDAQ:WABC)

Algert Global LLC cut its stake in Westamerica Bancorporation (NASDAQ:WABC) by 30.9% in the third quarter, HoldingsChannel.com reports. The fund owned 44,475 shares of the financial services provider’s stock after selling 19,890 shares during the period. Algert Global LLC’s holdings in Westamerica Bancorporation were worth $2,198,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Westamerica Bancorporation by 7.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock valued at $16,521,000 after purchasing an additional 22,902 shares in the last quarter. Intech Investment Management LLC raised its stake in Westamerica Bancorporation by 2.8% during the 3rd quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after buying an additional 191 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Westamerica Bancorporation by 143.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,137 shares of the financial services provider’s stock worth $1,143,000 after buying an additional 13,633 shares during the period. Quest Partners LLC grew its stake in Westamerica Bancorporation by 136,933.3% in the third quarter. Quest Partners LLC now owns 16,444 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 16,432 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Westamerica Bancorporation by 23.2% in the third quarter. Thrivent Financial for Lutherans now owns 61,990 shares of the financial services provider’s stock worth $3,064,000 after acquiring an additional 11,674 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Westamerica Bancorporation Stock Down 1.1 %

Shares of WABC stock opened at $57.57 on Wednesday. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $52.07 and a 200-day moving average of $50.60. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.50 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The firm had revenue of $74.07 million during the quarter, compared to analysts’ expectations of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. As a group, equities research analysts predict that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is presently 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.