Mraz Amerine & Associates Inc. Maintains Stake in Westamerica Bancorporation (NASDAQ:WABC)

Mraz Amerine & Associates Inc. held its position in shares of Westamerica Bancorporation (NASDAQ:WABC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,812 shares of the financial services provider’s stock at the end of the second quarter. Westamerica Bancorporation comprises approximately 1.4% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 13th largest position. Mraz Amerine & Associates Inc. owned approximately 0.30% of Westamerica Bancorporation worth $4,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Westamerica Bancorporation by 48,285.6% in the first quarter. BlackRock Inc. now owns 3,192,483 shares of the financial services provider’s stock valued at $178,235,000 after buying an additional 3,185,885 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Westamerica Bancorporation by 16.1% in the first quarter. Vanguard Group Inc. now owns 2,551,330 shares of the financial services provider’s stock valued at $142,440,000 after buying an additional 354,294 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Westamerica Bancorporation by 8.2% in the first quarter. Schroder Investment Management Group now owns 886,879 shares of the financial services provider’s stock valued at $50,277,000 after buying an additional 67,290 shares in the last quarter. State Street Corp boosted its position in shares of Westamerica Bancorporation by 17.0% in the first quarter. State Street Corp now owns 857,733 shares of the financial services provider’s stock valued at $47,882,000 after buying an additional 124,661 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Westamerica Bancorporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 372,226 shares of the financial services provider’s stock valued at $20,781,000 after buying an additional 17,379 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Shares of Westamerica Bancorporation (WABC) opened at 50.31 on Friday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 21.59 and a beta of 1.06. The firm has a 50-day moving average price of $54.18 and a 200 day moving average price of $55.05. Westamerica Bancorporation has a one year low of $47.31 and a one year high of $65.34.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $47.90 million during the quarter, compared to the consensus estimate of $46.70 million. Westamerica Bancorporation had a return on equity of 10.57% and a net margin of 33.83%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts forecast that Westamerica Bancorporation will post $2.32 earnings per share for the current fiscal year.

Westamerica Bancorporation declared that its board has authorized a stock repurchase plan on Thursday, July 27th that permits the company to repurchase 1,750,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, August 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is 66.67%.

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Several analysts have commented on WABC shares. Maxim Group reissued a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, April 21st. BidaskClub raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods raised Westamerica Bancorporation from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $54.00 to $56.00 in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.00.

In other news, Director Edward B. Sylvester sold 1,260 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $54.40, for a total transaction of $68,544.00. Following the completion of the transaction, the director now directly owns 72,490 shares of the company’s stock, valued at approximately $3,943,456. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.90% of the company’s stock.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

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

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