BidaskClub upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research report released on Wednesday.
Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a hold rating and set a $60.00 price objective on shares of Westamerica Bancorporation in a research report on Tuesday, February 27th. BMO Capital Markets decreased their price objective on shares of Westamerica Bancorporation from $52.00 to $50.00 and set an underperform rating for the company in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Westamerica Bancorporation currently has an average rating of Hold and an average target price of $54.67.
WABC opened at $59.94 on Wednesday. Westamerica Bancorporation has a twelve month low of $49.38 and a twelve month high of $64.26. The firm has a market cap of $1.57 billion, a PE ratio of 24.45 and a beta of 0.99.
Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Westamerica Bancorporation had a net margin of 27.34% and a return on equity of 10.73%. The company had revenue of $46.00 million during the quarter.
The business also recently declared a quarterly dividend, which was paid on Friday, May 18th. Shareholders of record on Monday, May 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, May 4th.
In other Westamerica Bancorporation news, CFO John A. Thorson sold 2,000 shares of the firm’s stock in a transaction on Friday, April 27th. The shares were sold at an average price of $56.62, for a total value of $113,240.00. Following the completion of the sale, the chief financial officer now directly owns 2,000 shares in the company, valued at $113,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dennis R. Hansen sold 23,800 shares of the firm’s stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $57.34, for a total transaction of $1,364,692.00. Following the completion of the sale, the senior vice president now owns 26,120 shares of the company’s stock, valued at $1,497,720.80. The disclosure for this sale can be found here. Insiders sold 33,624 shares of company stock valued at $1,920,763 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.
A number of large investors have recently bought and sold shares of WABC. BlackRock Inc. lifted its stake in shares of Westamerica Bancorporation by 1.8% in the first quarter. BlackRock Inc. now owns 3,456,944 shares of the financial services provider’s stock valued at $200,780,000 after buying an additional 60,730 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Westamerica Bancorporation by 1.3% in the first quarter. American Century Companies Inc. now owns 2,322,137 shares of the financial services provider’s stock valued at $134,870,000 after buying an additional 30,033 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Westamerica Bancorporation by 1.3% in the fourth quarter. Schroder Investment Management Group now owns 901,832 shares of the financial services provider’s stock valued at $53,704,000 after buying an additional 11,460 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Westamerica Bancorporation by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 595,041 shares of the financial services provider’s stock valued at $35,433,000 after buying an additional 23,521 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Westamerica Bancorporation by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 531,764 shares of the financial services provider’s stock valued at $31,666,000 after buying an additional 9,278 shares in the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.
Westamerica Bancorporation Company Profile
Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.
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