John A. Thorson Sells 1,100 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Westamerica Bancorporation Trading Down 1.4 %

Shares of NASDAQ:WABC opened at $47.21 on Friday. Westamerica Bancorporation has a 12-month low of $35.52 and a 12-month high of $57.96. The company has a market capitalization of $1.26 billion, a PE ratio of 7.97 and a beta of 0.56. The business has a 50 day moving average of $47.01 and a two-hundred day moving average of $49.10.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. Equities research analysts predict that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WABC shares. StockNews.com lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Piper Sandler dropped their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $57.00 price target (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WABC. Global Retirement Partners LLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its stake in shares of Westamerica Bancorporation by 27.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after buying an additional 355 shares during the period. GAMMA Investing LLC acquired a new position in shares of Westamerica Bancorporation during the 4th quarter worth approximately $99,000. Strs Ohio acquired a new position in shares of Westamerica Bancorporation during the 4th quarter worth approximately $112,000. Finally, CWM LLC raised its stake in shares of Westamerica Bancorporation by 248.3% during the 1st quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,235 shares during the period. 81.89% of the stock is owned by institutional investors and hedge funds.

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.