Westamerica Bancorporation (NASDAQ:WABC) Stake Increased by Prudential Financial Inc.

Share on StockTwits

Prudential Financial Inc. lifted its position in shares of Westamerica Bancorporation (NASDAQ:WABC) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,906 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the period. Prudential Financial Inc. owned 0.17% of Westamerica Bancorporation worth $2,608,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Westamerica Bancorporation by 115.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 1,458 shares during the last quarter. Hanson McClain Inc. boosted its holdings in shares of Westamerica Bancorporation by 90.6% during the 1st quarter. Hanson McClain Inc. now owns 2,840 shares of the financial services provider’s stock worth $165,000 after buying an additional 1,350 shares during the period. Xact Kapitalforvaltning AB bought a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $294,000. Millennium Management LLC bought a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $389,000. Finally, Financial Advocates Investment Management bought a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $469,000. Institutional investors own 85.32% of the company’s stock.

Shares of WABC stock opened at $60.21 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of 24.94 and a beta of 0.99. Westamerica Bancorporation has a 52 week low of $49.38 and a 52 week high of $64.26.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $46.00 million during the quarter. Westamerica Bancorporation had a net margin of 27.34% and a return on equity of 10.73%.

Several brokerages recently commented on WABC. BMO Capital Markets reduced their target price on shares of Westamerica Bancorporation from $52.00 to $50.00 and set an “underperform” rating for the company in a report on Wednesday, April 25th. BidaskClub raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $60.00 target price on shares of Westamerica Bancorporation in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Westamerica Bancorporation presently has a consensus rating of “Hold” and a consensus price target of $54.67.

In other Westamerica Bancorporation news, CFO John A. Thorson sold 5,824 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $56.53, for a total value of $329,230.72. Following the completion of the sale, the chief financial officer now owns 5,166 shares of the company’s stock, valued at approximately $292,033.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dennis R. Hansen sold 23,800 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $57.34, for a total transaction of $1,364,692.00. Following the completion of the sale, the senior vice president now directly owns 26,120 shares of the company’s stock, valued at approximately $1,497,720.80. The disclosure for this sale can be found here. Insiders sold a total of 33,624 shares of company stock valued at $1,920,763 in the last three months. Insiders own 4.50% of the company’s stock.

Westamerica Bancorporation Profile

Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.

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

Receive News & Ratings for Westamerica Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westamerica Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply