87,692 Shares in Westamerica Bancorporation $WABC Acquired by Man Group plc

Man Group plc acquired a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 87,692 shares of the financial services provider’s stock, valued at approximately $5,145,000. Man Group plc owned about 0.38% of Westamerica Bancorporation as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WABC. BlackRock Inc. acquired a new stake in Westamerica Bancorporation in the second quarter valued at $195,706,000. UBS Group AG raised its stake in shares of Westamerica Bancorporation by 279.4% during the 4th quarter. UBS Group AG now owns 457,206 shares of the financial services provider’s stock worth $21,868,000 after buying an additional 336,714 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth about $12,407,000. Millennium Management LLC boosted its position in shares of Westamerica Bancorporation by 101.3% in the 3rd quarter. Millennium Management LLC now owns 399,197 shares of the financial services provider’s stock worth $19,956,000 after buying an additional 200,884 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Westamerica Bancorporation by 35.9% in the 4th quarter. AQR Capital Management LLC now owns 381,832 shares of the financial services provider’s stock worth $18,263,000 after buying an additional 100,867 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WABC shares. Keefe, Bruyette & Woods raised their target price on shares of Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Wall Street Zen raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings lowered shares of Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Westamerica Bancorporation presently has an average rating of “Hold” and an average price target of $64.00.

Westamerica Bancorporation Stock Performance

Westamerica Bancorporation stock opened at $58.07 on Monday. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $63.61. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.79 and a beta of 0.56. The stock has a fifty day moving average of $59.35 and a two-hundred day moving average of $55.55.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.07. The business had revenue of $62.77 million for the quarter, compared to the consensus estimate of $61.60 million. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.During the same period in the prior year, the business earned $1.12 earnings per share.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is 42.29%.

About Westamerica Bancorporation

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.