Research Analysts’ Weekly Ratings Updates for Westamerica Bancorporation (WABC)

Westamerica Bancorporation (NASDAQ: WABC) recently received a number of ratings updates from brokerages and research firms:

• 4/22/2024 – Westamerica Bancorporation had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $57.00 price target on the stock, down previously from $58.00.
• 4/19/2024 – Westamerica Bancorporation had its price target lowered by analysts at Piper Sandler from $51.00 to $50.00. They now have a “neutral” rating on the stock.
• 4/16/2024 – Westamerica Bancorporation was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/8/2024 – Westamerica Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/31/2024 – Westamerica Bancorporation was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/23/2024 – Westamerica Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/13/2024 – Westamerica Bancorporation was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/4/2024 – Westamerica Bancorporation was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Westamerica Bancorporation Price Performance

WABC traded down $0.36 during trading on Wednesday, reaching $47.40. 12,610 shares of the company’s stock were exchanged, compared to its average volume of 155,465. The company’s fifty day simple moving average is $46.97 and its 200-day simple moving average is $49.11. The stock has a market capitalization of $1.26 billion, a P/E ratio of 8.01 and a beta of 0.56. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96.

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

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is presently 29.73%.

Insiders Place Their Bets

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the transaction, the chief executive officer now owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David L. Payne sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the transaction, the chief executive officer now owns 268,689 shares in the company, valued at $13,302,792.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total value of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,272 shares of company stock valued at $1,768,767. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WABC. Jupiter Asset Management Ltd. boosted its position in Westamerica Bancorporation by 8.3% during the third quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock worth $8,060,000 after acquiring an additional 14,206 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Westamerica Bancorporation during the 3rd quarter valued at $2,990,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Westamerica Bancorporation by 44.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock valued at $220,000 after buying an additional 1,562 shares during the period. Los Angeles Capital Management LLC increased its position in Westamerica Bancorporation by 53.3% in the third quarter. Los Angeles Capital Management LLC now owns 26,514 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 9,220 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Westamerica Bancorporation by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock worth $12,198,000 after purchasing an additional 13,758 shares during the period. Institutional investors own 81.89% of the company’s stock.

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.