Westamerica Bancorporation (NASDAQ:WABC) Stock Crosses Above 200-Day Moving Average – What’s Next?

Westamerica Bancorporation (NASDAQ:WABC)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $56.70 and traded as high as $60.65. Westamerica Bancorporation shares last traded at $59.38, with a volume of 275,266 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on WABC. Weiss Ratings lowered shares of Westamerica Bancorporation from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Keefe, Bruyette & Woods upped their price target on Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.00.

Westamerica Bancorporation Stock Down 0.5%

The firm has a market cap of $1.34 billion, a PE ratio of 12.80 and a beta of 0.56. The stock has a 50 day moving average price of $59.35 and a two-hundred day moving average price of $56.76.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. The firm had revenue of $62.77 million during the quarter, compared to analyst estimates of $61.60 million. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. During the same period last year, the firm posted $1.12 EPS.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.3%. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 42.29%.

Institutional Investors Weigh In On Westamerica Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in WABC. WINTON GROUP Ltd raised its stake in Westamerica Bancorporation by 48.2% in the 2nd quarter. WINTON GROUP Ltd now owns 69,033 shares of the financial services provider’s stock worth $4,050,000 after acquiring an additional 22,456 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Westamerica Bancorporation during the 2nd quarter worth about $101,000. Allworth Financial LP grew its stake in Westamerica Bancorporation by 12.4% during the 2nd quarter. Allworth Financial LP now owns 4,923 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 545 shares during the last quarter. Corient Private Wealth LP purchased a new stake in Westamerica Bancorporation during the 2nd quarter valued at about $350,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Westamerica Bancorporation during the 2nd quarter valued at about $246,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a bank holding company headquartered in San Rafael, California. Through its principal subsidiary, Westamerica Bank, the company provides community banking services to individuals, businesses and organizations.

Westamerica Bank offers deposit accounts, commercial and consumer lending, real estate loans, cash-management and treasury services, online and mobile banking, and other financial services. Its lending activities include loans for business operations, commercial real estate, residential real estate and personal needs.

The company serves customers primarily in Northern and Central California through a network of banking offices and digital channels.