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

by · The Markets Daily

StockNews.com upgraded shares of Westamerica Bancorporation (NASDAQ:WABC – Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research analysts have also recently issued reports on the stock. Piper Sandler increased their price target on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Maxim Group cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.00.

Check Out Our Latest Analysis on WABC

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $51.80 on Thursday. The business has a 50 day simple moving average of $49.78 and a 200-day simple moving average of $49.32. Westamerica Bancorporation has a 12 month low of $43.82 and a 12 month high of $58.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market capitalization of $1.38 billion, a PE ratio of 9.44 and a beta of 0.55.

Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 18.32%. The company had revenue of $79.57 million during the quarter, compared to the consensus estimate of $74.28 million. Equities analysts predict that Westamerica Bancorporation will post 5.2 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, August 5th. Westamerica Bancorporation’s dividend payout ratio is currently 32.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new stake in shares of Westamerica Bancorporation during the 2nd quarter worth approximately $36,000. EntryPoint Capital LLC purchased a new stake in Westamerica Bancorporation during the first quarter worth $75,000. GAMMA Investing LLC grew its holdings in Westamerica Bancorporation by 13.8% in the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 226 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Westamerica Bancorporation in the first quarter valued at $113,000. Finally, SageView Advisory Group LLC acquired a new position in shares of Westamerica Bancorporation during the 1st quarter worth $140,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

About Westamerica Bancorporation

(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.

Recommended Stories