Hsbc Holdings PLC Makes New Investment in Westamerica Bancorporation $WABC

Hsbc Holdings PLC purchased a new position in shares of Westamerica Bancorporation (NASDAQ:WABC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 11,945 shares of the financial services provider’s stock, valued at approximately $570,000.

Several other institutional investors have also made changes to their positions in WABC. Royal Bank of Canada grew its stake in shares of Westamerica Bancorporation by 6.8% in the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after buying an additional 1,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Westamerica Bancorporation by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 642 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Westamerica Bancorporation during the first quarter valued at approximately $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Westamerica Bancorporation by 9.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider’s stock valued at $3,243,000 after acquiring an additional 5,293 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Westamerica Bancorporation by 815.8% in the first quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 60,102 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

WABC opened at $62.46 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 13.91 and a beta of 0.56. The stock has a 50-day moving average of $57.06 and a 200-day moving average of $53.43. Westamerica Bancorporation has a 52-week low of $44.93 and a 52-week high of $62.53.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.The business had revenue of $62.77 million for the quarter, compared to the consensus estimate of $61.60 million. During the same period last year, the business earned $1.12 EPS.

Westamerica Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.1%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, May 4th. Westamerica Bancorporation’s dividend payout ratio is 42.76%.

Analyst Upgrades and Downgrades

Several research firms have commented on WABC. Weiss Ratings raised shares of Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods raised their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Westamerica Bancorporation currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Insider Activity at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 759 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $53.83, for a total value of $40,856.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.

Westamerica Bancorporation Company Profile

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.