Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) was down 3.8% on Friday after Keefe, Bruyette & Woods lowered their price target on the stock from $60.00 to $58.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Westamerica Bancorporation traded as low as $49.72 and last traded at $50.11. Approximately 13,804 shares traded hands during trading, a decline of 88% from the average daily volume of 119,096 shares. The stock had previously closed at $52.11.
WABC has been the topic of a number of other reports. TheStreet raised Westamerica Bancorporation from a “c+” rating to a “b-” rating in a report on Wednesday, November 22nd. Piper Sandler lifted their price objective on Westamerica Bancorporation from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Finally, StockNews.com started coverage on Westamerica Bancorporation in a report on Thursday, October 5th. They issued a “hold” rating on the stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in Westamerica Bancorporation in the 4th quarter worth approximately $31,000. Raymond James & Associates lifted its stake in shares of Westamerica Bancorporation by 13.2% in the 4th quarter. Raymond James & Associates now owns 37,395 shares of the financial services provider’s stock valued at $2,109,000 after purchasing an additional 4,355 shares during the period. American Century Companies Inc. grew its stake in shares of Westamerica Bancorporation by 20.8% during the third 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. Deutsche Bank AG lifted its stake in Westamerica Bancorporation by 15.5% in the third quarter. Deutsche Bank AG now owns 12,706 shares of the financial services provider’s stock valued at $550,000 after buying an additional 1,703 shares during the period. Finally, Comerica Bank bought a new position in Westamerica Bancorporation during the third quarter worth about $536,000. 75.11% of the stock is owned by institutional investors and hedge funds.
Westamerica Bancorporation Stock Down 5.9 %
The stock has a market cap of $1.31 billion, a P/E ratio of 8.01 and a beta of 0.60. The stock has a fifty day simple moving average of $53.34 and a 200-day simple moving average of $47.86.
Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last issued its earnings results on Thursday, October 19th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Westamerica Bancorporation had a return on equity of 25.17% and a net margin of 49.71%. The firm had revenue of $83.00 million for the quarter, compared to analysts’ expectations of $79.84 million. Sell-side analysts anticipate that Westamerica Bancorporation will post 6.04 earnings per share for the current year.
Westamerica Bancorporation Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, November 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 29.14%.
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.