Westamerica Bancorporation (NASDAQ:WABC) Stock Rating Upgraded by StockNews.com

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Piper Sandler reduced their price objective on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th.

View Our Latest Research Report on Westamerica Bancorporation

Westamerica Bancorporation Trading Up 3.0 %

WABC stock traded up $1.47 during trading on Wednesday, reaching $49.80. 87,917 shares of the stock traded hands, compared to its average volume of 136,072. The firm has a market capitalization of $1.33 billion, a PE ratio of 8.41 and a beta of 0.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.23 and a quick ratio of 0.23. The business’s 50 day moving average price is $48.22 and its 200-day moving average price is $48.56. Westamerica Bancorporation has a 52-week low of $39.84 and a 52-week 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 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 firm had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. As a group, sell-side analysts forecast that Westamerica Bancorporation will post 5.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a filing with the SEC, which is available at 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. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westamerica Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Westamerica Bancorporation in the 4th quarter valued at about $31,000. EntryPoint Capital LLC acquired a new position in shares of Westamerica Bancorporation during the first quarter worth approximately $75,000. GAMMA Investing LLC acquired a new position in shares of Westamerica Bancorporation during the fourth quarter worth approximately $99,000. Strs Ohio bought a new position in Westamerica Bancorporation in the 4th quarter worth approximately $112,000. Finally, SG Americas Securities LLC bought a new stake in Westamerica Bancorporation during the 1st quarter valued at $113,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Company Profile

(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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