StockNews.com lowered shares of Westamerica Bancorporation (NASDAQ:WABC – Free Report) from a hold rating to a sell rating in a report issued on Sunday.
A number of other equities analysts have also recently issued reports on WABC. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a market perform rating on the stock in a research note on Friday, January 19th. Piper Sandler decreased their target price on Westamerica Bancorporation from $56.00 to $55.00 and set a neutral rating for the company in a research report on Friday, January 19th.
Westamerica Bancorporation Stock Up 0.1 %
Shares of WABC stock traded up $0.07 during mid-day trading on Friday, reaching $48.88. 189,925 shares of the company’s stock traded hands, compared to its average volume of 142,685. Westamerica Bancorporation has a 12 month low of $35.52 and a 12 month high of $57.96. The company has a market cap of $1.30 billion, a P/E ratio of 8.07 and a beta of 0.55. The company’s 50-day moving average price is $46.99 and its 200-day moving average price is $48.62.
Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Westamerica Bancorporation had a net margin of 49.39% and a return on equity of 23.61%. The business had revenue of $80.37 million for the quarter, compared to the consensus estimate of $81.03 million. Equities analysts predict that Westamerica Bancorporation will post 5.35 earnings per share for the current year.
Westamerica Bancorporation Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio (DPR) is 29.04%.
Insiders Place Their Bets
In other news, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David L. Payne sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.75, for a total transaction of $746,250.00. Following the completion of the sale, the chief executive officer now owns 288,689 shares of the company’s stock, valued at approximately $14,362,277.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,000 shares of company stock valued at $2,213,458. 4.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Westamerica Bancorporation
Hedge funds and other institutional investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. increased its position in shares of Westamerica Bancorporation by 8.3% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after purchasing an additional 14,206 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Westamerica Bancorporation in the 3rd quarter worth approximately $2,990,000. Barclays PLC increased its holdings in Westamerica Bancorporation by 75.7% in the 2nd quarter. Barclays PLC now owns 54,876 shares of the financial services provider’s stock worth $2,102,000 after acquiring an additional 23,643 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Westamerica Bancorporation by 44.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Westamerica Bancorporation by 53.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 26,514 shares of the financial services provider’s stock worth $1,147,000 after acquiring an additional 9,220 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.
About Westamerica Bancorporation
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.