Westamerica Bancorporation (NASDAQ:WABC) Downgraded by StockNews.com

StockNews.com lowered shares of Westamerica Bancorporation (NASDAQ:WABCFree Report) from a hold rating to a sell rating in a research report report published on Friday morning.

A number of other research firms have also weighed in on WABC. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $57.00 price objective (down from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. Piper Sandler lowered their price objective on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a neutral rating on the stock in a research report on Friday, April 19th.

View Our Latest Stock Report on WABC

Westamerica Bancorporation Stock Performance

Shares of WABC opened at $48.53 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.29 billion, a PE ratio of 8.20 and a beta of 0.56. The company’s 50 day simple moving average is $48.06 and its 200-day simple moving average is $48.94. Westamerica Bancorporation has a 12-month low of $38.10 and a 12-month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The business had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. As a group, equities analysts predict that Westamerica Bancorporation will post 5.25 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.76 annualized dividend and a dividend yield of 3.63%. Westamerica Bancorporation’s payout ratio is currently 29.73%.

Insiders Place Their Bets

In other news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $47.61, for a total transaction of $30,232.35. Following the completion of the transaction, the senior vice president now owns 4,073 shares of the company’s stock, valued at approximately $193,915.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.24, for a total transaction of $51,964.00. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Westamerica Bancorporation by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,512,538 shares of the financial services provider’s stock worth $171,693,000 after purchasing an additional 19,654 shares during the period. American Century Companies Inc. grew its holdings in shares of Westamerica Bancorporation by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock worth $51,828,000 after purchasing an additional 206,376 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Westamerica Bancorporation by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock worth $44,155,000 after purchasing an additional 21,547 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Westamerica Bancorporation by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after acquiring an additional 18,297 shares during the period. Finally, Kennedy Capital Management LLC boosted its holdings in Westamerica Bancorporation by 70.2% in the 1st quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock worth $12,326,000 after acquiring an additional 104,029 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

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.

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