Texas Permanent School Fund Corp Has $824,000 Position in Westamerica Bancorporation (NASDAQ:WABC)

Texas Permanent School Fund Corp reduced its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,514 shares of the financial services provider’s stock after selling 4,432 shares during the period. Texas Permanent School Fund Corp’s holdings in Westamerica Bancorporation were worth $824,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. CWM LLC grew its stake in shares of Westamerica Bancorporation by 247.9% in the 2nd quarter. CWM LLC now owns 1,061 shares of the financial services provider’s stock valued at $41,000 after buying an additional 756 shares during the period. Money Concepts Capital Corp acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at about $70,000. Captrust Financial Advisors grew its stake in shares of Westamerica Bancorporation by 123.9% in the 1st quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock valued at $94,000 after buying an additional 856 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Westamerica Bancorporation in the 2nd quarter valued at about $115,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at about $147,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $49.95 on Tuesday. Westamerica Bancorporation has a fifty-two week low of $35.52 and a fifty-two week high of $62.74. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 8.27 and a beta of 0.61. The firm’s 50-day simple moving average is $45.42 and its 200 day simple moving average is $43.64.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Westamerica Bancorporation had a net margin of 49.71% and a return on equity of 25.17%. The business had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $79.84 million. On average, sell-side analysts predict that Westamerica Bancorporation will post 6.04 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.52%. Westamerica Bancorporation’s dividend payout ratio is currently 29.14%.

Wall Street Analyst Weigh In

WABC has been the subject of several research reports. Piper Sandler raised their target price on Westamerica Bancorporation from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. StockNews.com assumed coverage on shares of Westamerica Bancorporation in a research report on Thursday, October 5th. They issued a “hold” rating on the stock.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.