Westamerica Bancorporation (NASDAQ:WABC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Westamerica Bancorporation (NASDAQ:WABCFree Report) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other analysts have also recently weighed in on WABC. Piper Sandler decreased their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd.

Check Out Our Latest Stock Analysis on WABC

Westamerica Bancorporation Price Performance

WABC stock opened at $50.27 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of 8.49 and a beta of 0.56. The stock has a 50-day moving average price of $47.88 and a two-hundred day moving average price of $49.55. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.25. Westamerica Bancorporation has a 1 year low of $37.32 and a 1 year high of $57.96.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). The firm had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. Equities analysts forecast that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.44 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.76 annualized dividend and a yield of 3.50%. Westamerica Bancorporation’s payout ratio is 29.73%.

Insider Activity at Westamerica Bancorporation

In related news, SVP George S. Ensinger sold 635 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares in the company, valued at $193,915.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $47.61, for a total transaction of $30,232.35. Following the transaction, the senior vice president now owns 4,073 shares in the company, valued at approximately $193,915.53. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Westamerica Bancorporation

Several institutional investors have recently made changes to their positions in WABC. Janus Henderson Group PLC increased its position in shares of Westamerica Bancorporation by 124.0% during the first quarter. Janus Henderson Group PLC now owns 26,620 shares of the financial services provider’s stock worth $1,301,000 after acquiring an additional 14,738 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of Westamerica Bancorporation by 70.2% during the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock worth $12,326,000 after acquiring an additional 104,029 shares in the last quarter. Lazard Asset Management LLC grew its position in Westamerica Bancorporation by 41.4% in the 1st quarter. Lazard Asset Management LLC now owns 19,663 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,760 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Westamerica Bancorporation in the 1st quarter worth about $75,000. Finally, Stieven Capital Advisors L.P. grew its position in Westamerica Bancorporation by 43.8% in the 1st quarter. Stieven Capital Advisors L.P. now owns 76,805 shares of the financial services provider’s stock worth $3,754,000 after purchasing an additional 23,398 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

About Westamerica Bancorporation

(Get Free Report)

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.

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