Westamerica Bancorporation (NASDAQ:WABC) Upgraded by StockNews.com to “Hold”

Westamerica Bancorporation (NASDAQ:WABC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock opened at $51.60 on Wednesday. Westamerica Bancorporation has a one year low of $41.51 and a one year high of $57.96. The stock’s fifty day moving average is $48.28 and its 200 day moving average is $48.58. The stock has a market cap of $1.38 billion, a P/E ratio of 8.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.23 and a current ratio of 0.23.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.37 EPS 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 company had revenue of $78.84 million during the quarter, compared to the consensus estimate of $77.34 million. Sell-side analysts anticipate that Westamerica Bancorporation will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, CFO John A. Thorson sold 1,100 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through this link. In other news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP George S. Ensinger sold 635 shares of Westamerica Bancorporation stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the completion of the sale, the senior vice president now directly owns 4,073 shares in the company, valued at $193,915.53. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Westamerica Bancorporation

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 19,654 shares during the last quarter. American Century Companies Inc. grew its position in Westamerica Bancorporation by 20.8% in the third quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock worth $51,828,000 after acquiring an additional 206,376 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Westamerica Bancorporation by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock worth $44,155,000 after acquiring an additional 21,547 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 18,297 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its position 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 worth $12,326,000 after acquiring an additional 104,029 shares in the last quarter. 81.89% of the stock is owned by institutional investors.

About Westamerica Bancorporation

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.