Hsbc Holdings PLC Makes New $570,000 Investment in Westamerica Bancorporation $WABC

Hsbc Holdings PLC acquired a new stake in shares of Westamerica Bancorporation (NASDAQ:WABC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,945 shares of the financial services provider’s stock, valued at approximately $570,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Westamerica Bancorporation by 6.8% in the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock worth $938,000 after acquiring an additional 1,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Westamerica Bancorporation by 4.4% in the 1st 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 acquired a new position in Westamerica Bancorporation in the 1st quarter worth approximately $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Westamerica Bancorporation by 9.0% in the 1st 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 worth $3,243,000 after purchasing an additional 5,293 shares during the period. Finally, Jane Street Group LLC grew its position in Westamerica Bancorporation by 815.8% during the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock worth $3,416,000 after purchasing an additional 60,102 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $62.46 on Friday. The company has a 50 day simple moving average of $57.06 and a 200-day simple moving average of $53.43. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.91 and a beta of 0.56. Westamerica Bancorporation has a 52-week low of $44.93 and a 52-week high of $62.53.

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

Westamerica Bancorporation Increases Dividend

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

Insider Activity at Westamerica Bancorporation

In other news, SVP Robert James Baker, Jr. sold 759 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.