Westamerica Bancorporation (NASDAQ:WABC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

A number of other brokerages also recently issued reports on WABC. Weiss Ratings reissued a “hold (c)” rating on shares of Westamerica Bancorporation in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, July 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Westamerica Bancorporation currently has an average rating of “Hold” and an average target price of $52.00.

Westamerica Bancorporation Price Performance

WABC opened at $47.49 on Monday. The firm has a market cap of $1.21 billion, a P/E ratio of 10.35 and a beta of 0.61. The firm has a 50-day moving average of $48.71 and a 200 day moving average of $48.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.29. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $64.00 million during the quarter, compared to analyst estimates of $64.20 million. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. On average, research analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Hedge Funds Weigh In On Westamerica Bancorporation

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Westamerica Bancorporation by 354.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after buying an additional 666 shares during the last quarter. MAI Capital Management grew its holdings in Westamerica Bancorporation by 126.1% during the 2nd quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock valued at $42,000 after buying an additional 483 shares in the last quarter. Strs Ohio bought a new stake in shares of Westamerica Bancorporation during the first quarter valued at approximately $96,000. Jones Financial Companies Lllp bought a new stake in Westamerica Bancorporation in the first quarter worth $99,000. Finally, Golden State Wealth Management LLC increased its position in Westamerica Bancorporation by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,245 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

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.