Westamerica Bancorporation's (WABC) "Market Perform" Rating Reaffirmed at Keefe, Bruyette & Woods

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report)'s stock had its "market perform" rating restated by research analysts at Keefe, Bruyette & Woods in a research report issued on Monday, Benzinga reports. They currently have a $57.00 price objective on the financial services provider's stock, down from their prior price objective of $58.00. Keefe, Bruyette & Woods' target price points to a potential upside of 20.33% from the company's current price.

A number of other brokerages have also issued reports on WABC. StockNews.com lowered shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Tuesday, April 16th. Piper Sandler decreased their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday.

Westamerica Bancorporation Price Performance

NASDAQ WABC traded up $0.59 on Monday, hitting $47.37. 167,750 shares of the stock were exchanged, compared to its average volume of 157,671. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.87 and a beta of 0.56. The company's 50-day moving average price is $46.87 and its two-hundred day moving average price is $49.06.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $77.34 million. Equities analysts predict that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Insider Activity at Westamerica Bancorporation

In other Westamerica Bancorporation news, CEO David L. Payne sold 15,000 shares of the business's stock in a transaction on 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. In other Westamerica Bancorporation news, CEO David L. Payne sold 15,000 shares of the business's stock in a transaction on 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David L. Payne sold 10,000 shares of the business's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total transaction of $495,100.00. Following the transaction, the chief executive officer now directly owns 268,689 shares of the company's stock, valued at approximately $13,302,792.39. 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. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Westamerica Bancorporation by 248.3% during the 1st quarter. CWM LLC now owns 3,135 shares of the financial services provider's stock worth $153,000 after purchasing an additional 2,235 shares during the period. Beacon Financial Group bought a new position in shares of Westamerica Bancorporation during the 4th quarter worth about $397,000. Rafferty Asset Management LLC increased its stake in Westamerica Bancorporation by 31.8% in the fourth quarter. Rafferty Asset Management LLC now owns 26,784 shares of the financial services provider's stock valued at $1,511,000 after acquiring an additional 6,462 shares during the period. Hsbc Holdings PLC bought a new stake in Westamerica Bancorporation in the fourth quarter valued at about $1,874,000. Finally, Norges Bank bought a new stake in Westamerica Bancorporation in the fourth quarter valued at about $9,733,000. Institutional investors own 81.89% of the company's stock.

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.