StockNews.com Downgrades Westamerica Bancorporation (NASDAQ:WABC) to Sell

Westamerica Bancorporation (NASDAQ:WABC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

WABC has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Piper Sandler dropped their price objective 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.

Westamerica Bancorporation Trading Up 2.9 %

Shares of WABC stock opened at $48.53 on Friday. Westamerica Bancorporation has a fifty-two week low of $38.10 and a fifty-two week high of $57.96. The firm’s 50 day moving average price is $48.06 and its two-hundred day moving average price is $48.99. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 8.20 and a beta of 0.56. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.25.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The business had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. On average, analysts anticipate that Westamerica Bancorporation will post 5.25 EPS for the current year.

Insiders Place Their Bets

In other news, CFO John A. Thorson sold 1,100 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $51,964.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP George S. Ensinger sold 635 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.61, for a total transaction of $30,232.35. Following the transaction, the senior vice president now directly 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.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Westamerica Bancorporation by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,512,538 shares of the financial services provider’s stock worth $171,693,000 after acquiring an additional 19,654 shares during the last quarter. American Century Companies Inc. boosted its position in Westamerica Bancorporation by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after purchasing an additional 206,376 shares during the period. Dimensional Fund Advisors LP grew its stake in Westamerica Bancorporation by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock worth $44,155,000 after buying an additional 21,547 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Westamerica Bancorporation by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after buying an additional 18,297 shares during the period. Finally, Kennedy Capital Management LLC lifted its stake in Westamerica Bancorporation by 70.2% in the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock valued at $12,326,000 after buying an additional 104,029 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Company Profile

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.