Russell Investments Group Ltd. Has $7.24 Million Position in Westamerica Bancorporation (NASDAQ:WABC)

Russell Investments Group Ltd. grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC) by 72.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 128,770 shares of the financial services provider’s stock after buying an additional 54,097 shares during the period. Russell Investments Group Ltd.’s holdings in Westamerica Bancorporation were worth $7,243,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its position in shares of Westamerica Bancorporation by 9.5% during the third quarter. Advisor Group Holdings Inc. now owns 2,670 shares of the financial services provider’s stock valued at $151,000 after buying an additional 231 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Westamerica Bancorporation by 6.7% during the second quarter. Mutual of America Capital Management LLC now owns 3,820 shares of the financial services provider’s stock valued at $222,000 after buying an additional 240 shares during the last quarter. CWM Advisors LLC raised its position in shares of Westamerica Bancorporation by 3.1% during the second quarter. CWM Advisors LLC now owns 8,184 shares of the financial services provider’s stock valued at $475,000 after buying an additional 248 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Westamerica Bancorporation by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 7,736 shares of the financial services provider’s stock valued at $449,000 after buying an additional 337 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Westamerica Bancorporation by 6.0% during the second quarter. Bank of Montreal Can now owns 9,926 shares of the financial services provider’s stock valued at $592,000 after buying an additional 563 shares during the last quarter. 75.36% of the stock is owned by institutional investors and hedge funds.

NASDAQ WABC opened at $60.33 on Friday. The stock has a market cap of $1.62 billion, a P/E ratio of 18.28 and a beta of 0.63. Westamerica Bancorporation has a twelve month low of $53.24 and a twelve month high of $66.85. The company’s 50-day simple moving average is $57.30 and its 200 day simple moving average is $56.54.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.57 million. Westamerica Bancorporation had a net margin of 40.32% and a return on equity of 10.14%. As a group, equities analysts predict that Westamerica Bancorporation will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.78%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, November 5th. Westamerica Bancorporation’s dividend payout ratio is currently 50.91%.

WABC has been the topic of a number of analyst reports. Maxim Group reissued a “buy” rating and issued a $76.00 target price on shares of Westamerica Bancorporation in a research note on Friday, October 22nd. TheStreet raised shares of Westamerica Bancorporation from a “c+” rating to a “b-” rating in a research note on Tuesday, November 9th. Finally, Zacks Investment Research cut shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Wednesday, December 22nd.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California. It offers loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services.

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

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