StockNews.com Lowers Westamerica Bancorporation (NASDAQ:WABC) to Sell

Westamerica Bancorporation (NASDAQ:WABC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other analysts also recently commented on WABC. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. Piper Sandler cut their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, April 19th.

Westamerica Bancorporation Stock Performance

Shares of WABC stock traded up $1.35 during mid-day trading on Friday, reaching $48.53. The stock had a trading volume of 516,482 shares, compared to its average volume of 138,942. The firm’s 50 day simple moving average is $48.06 and its 200 day simple moving average is $49.03. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.25. Westamerica Bancorporation has a one year low of $38.10 and a one year high of $57.96. The firm has a market cap of $1.29 billion, a PE ratio of 8.20 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The firm had revenue of $78.84 million during the quarter, compared to the consensus estimate of $77.34 million. On average, analysts forecast that Westamerica Bancorporation will post 5.3 EPS for the current year.

Insider Activity

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

Institutional Trading of Westamerica Bancorporation

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Westamerica Bancorporation by 6.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock valued at $16,941,000 after acquiring an additional 18,297 shares during the last quarter. Leeward Investments LLC MA acquired a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at about $9,515,000. Los Angeles Capital Management LLC increased its position in shares of Westamerica Bancorporation by 74.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 46,266 shares of the financial services provider’s stock valued at $2,610,000 after acquiring an additional 19,752 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Westamerica Bancorporation by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after acquiring an additional 21,547 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Westamerica Bancorporation in the third quarter valued at about $2,990,000. 81.89% of the stock is currently owned by institutional investors.

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.