Westamerica Bancorporation (NASDAQ:WABC) Lowered to “Sell” at StockNews.com

Westamerica Bancorporation (NASDAQ:WABCGet Rating) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Sunday.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $48.77 on Friday. The stock has a fifty day simple moving average of $55.12 and a two-hundred day simple moving average of $56.88. The firm has a market capitalization of $1.31 billion, a PE ratio of 10.77 and a beta of 0.64. Westamerica Bancorporation has a 52-week low of $46.75 and a 52-week high of $63.86.

Institutional Trading of Westamerica Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WABC. Lazard Asset Management LLC bought a new position in shares of Westamerica Bancorporation during the second quarter valued at approximately $25,000. Bessemer Group Inc. purchased a new stake in Westamerica Bancorporation in the third quarter valued at $44,000. Money Concepts Capital Corp purchased a new stake in Westamerica Bancorporation in the 4th quarter worth approximately $70,000. Captrust Financial Advisors grew its position in Westamerica Bancorporation by 123.9% during the first quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock valued at $94,000 after buying an additional 856 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Westamerica Bancorporation in the second quarter valued at approximately $115,000. 76.65% of the stock is currently owned by institutional investors.

About Westamerica Bancorporation

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Westamerica Bancorporation operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California. It offers loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services.

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