DekaBank Deutsche Girozentrale Has $2.68 Million Stock Holdings in Westamerica Bancorporation (NASDAQ:WABC)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale grew its stake in shares of Westamerica Bancorporation (NASDAQ:WABC – Get Rating) by 250.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,602 shares of the financial services provider’s stock after purchasing an additional 32,606 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.17% of Westamerica Bancorporation worth $2,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WABC. BlackRock Inc. increased its holdings in Westamerica Bancorporation by 0.6% during the third quarter. BlackRock Inc. now owns 3,964,443 shares of the financial services provider’s stock worth $207,302,000 after buying an additional 21,712 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Westamerica Bancorporation by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,218,835 shares of the financial services provider’s stock worth $168,312,000 after purchasing an additional 43,011 shares during the last quarter. State Street Corp raised its holdings in shares of Westamerica Bancorporation by 6.7% in the 1st quarter. State Street Corp now owns 1,151,491 shares of the financial services provider’s stock valued at $69,665,000 after purchasing an additional 72,066 shares during the period. Dimensional Fund Advisors LP lifted its stake in Westamerica Bancorporation by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 690,556 shares of the financial services provider’s stock valued at $36,109,000 after purchasing an additional 7,605 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Westamerica Bancorporation by 1.0% during the second quarter. Northern Trust Corp now owns 481,515 shares of the financial services provider’s stock worth $26,802,000 after purchasing an additional 4,567 shares during the period. Institutional investors own 76.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on WABC. Keefe, Bruyette & Woods dropped their price objective on Westamerica Bancorporation from $72.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Finally, TheStreet cut shares of Westamerica Bancorporation from a “b-” rating to a “c+” rating in a research report on Tuesday, April 4th.

Westamerica Bancorporation Stock Down 0.1 %

Shares of NASDAQ:WABC opened at $41.16 on Friday. Westamerica Bancorporation has a 12-month low of $40.15 and a 12-month high of $63.86. The business has a 50 day moving average of $48.91 and a 200-day moving average of $54.93. The stock has a market cap of $1.11 billion, a PE ratio of 9.09 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.46. Westamerica Bancorporation had a return on equity of 19.84% and a net margin of 45.73%. The business had revenue of $79.19 million during the quarter, compared to the consensus estimate of $78.64 million. Equities research analysts expect that Westamerica Bancorporation will post 6.1 earnings per share for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Monday, February 6th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. Westamerica Bancorporation’s payout ratio is presently 37.09%.

Westamerica Bancorporation Company Profile

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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.