Keel Point LLC lessened its position in Westamerica Bancorporation (NASDAQ:WABC) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,068 shares of the financial services provider’s stock after selling 1,487 shares during the quarter. Keel Point LLC’s holdings in Westamerica Bancorporation were worth $659,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in Westamerica Bancorporation during the 3rd quarter valued at approximately $204,000. Janney Montgomery Scott LLC bought a new position in Westamerica Bancorporation during the 3rd quarter valued at approximately $229,000. Crossmark Global Holdings Inc. bought a new position in Westamerica Bancorporation during the 3rd quarter valued at approximately $305,000. Piedmont Investment Advisors LLC bought a new position in Westamerica Bancorporation during the 2nd quarter valued at approximately $319,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Westamerica Bancorporation in the 4th quarter worth $532,000. Institutional investors own 84.82% of the company’s stock.

A number of research firms have commented on WABC. BidaskClub lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. 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. 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. Maxim Group reissued a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. Finally, 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. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.00.

Shares of Westamerica Bancorporation (NASDAQ:WABC) opened at $57.01 on Tuesday. Westamerica Bancorporation has a fifty-two week low of $49.38 and a fifty-two week high of $64.26. The company has a market capitalization of $1,509.66, a price-to-earnings ratio of 24.63 and a beta of 1.01.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.58 EPS for the quarter. Westamerica Bancorporation had a return on equity of 10.30% and a net margin of 26.26%. The company had revenue of $54.03 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, February 2nd. Westamerica Bancorporation’s payout ratio is currently 84.21%.

In related news, CFO John A. Thorson sold 8,800 shares of Westamerica Bancorporation stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $62.38, for a total value of $548,944.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward B. Sylvester sold 5,000 shares of Westamerica Bancorporation stock in a transaction on Friday, January 26th. The stock was sold at an average price of $60.93, for a total value of $304,650.00. Following the completion of the sale, the director now directly owns 67,490 shares of the company’s stock, valued at approximately $4,112,165.70. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock valued at $3,628,482 in the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

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Westamerica Bancorporation Profile

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

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