Thrivent Financial for Lutherans Sells 22,471 Shares of Westamerica Bancorporation $WABC

Thrivent Financial for Lutherans decreased its holdings in shares of Westamerica Bancorporation (NASDAQ:WABC) by 55.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,369 shares of the financial services provider’s stock after selling 22,471 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Westamerica Bancorporation worth $918,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WABC. CANADA LIFE ASSURANCE Co raised its position in shares of Westamerica Bancorporation by 0.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 32,377 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 213 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Westamerica Bancorporation by 4.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,833 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 274 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Westamerica Bancorporation by 5.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,722 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 331 shares during the period. MAI Capital Management increased its holdings in Westamerica Bancorporation by 126.1% in the second quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Westamerica Bancorporation by 0.7% in the second quarter. Rhumbline Advisers now owns 85,802 shares of the financial services provider’s stock valued at $4,156,000 after purchasing an additional 559 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $52.21 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $53.36. The company’s 50 day moving average price is $49.78 and its two-hundred day moving average price is $48.84. The company has a market capitalization of $1.30 billion, a P/E ratio of 11.55 and a beta of 0.62.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.05. The company had revenue of $66.05 million during the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. On average, analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 18th that allows the company to buyback $2.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 0.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is currently 40.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their target price on Westamerica Bancorporation from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Westamerica Bancorporation in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.50.

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.