Westamerica Bancorporation (NASDAQ:WABC) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) from a sell rating to a hold rating in a research note released on Monday.

A number of other research analysts also recently weighed in on the stock. Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $56.00 to $55.00 and set a neutral rating for the company in a research report on Friday, January 19th. Keefe, Bruyette & Woods decreased their price objective on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a market perform rating for the company in a research report on Friday, January 19th.

Westamerica Bancorporation Trading Up 1.5 %

Shares of Westamerica Bancorporation stock traded up $0.70 during trading hours on Monday, reaching $48.23. The stock had a trading volume of 71,082 shares, compared to its average volume of 162,804. The stock's 50 day moving average is $46.79 and its 200 day moving average is $48.82. The firm has a market capitalization of $1.29 billion, a PE ratio of 7.96 and a beta of 0.56. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.02). The firm had revenue of $80.37 million during the quarter, compared to analyst estimates of $81.03 million. Westamerica Bancorporation had a return on equity of 23.61% and a net margin of 49.39%. As a group, sell-side analysts predict that Westamerica Bancorporation will post 5.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. Westamerica Bancorporation's payout ratio is currently 29.04%.

Insider Buying and Selling

In related news, CEO David L. Payne sold 15,000 shares of the stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Westamerica Bancorporation news, CEO David L. Payne sold 15,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 288,689 shares in the company, valued at approximately $14,362,277.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David L. Payne sold 11,272 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now owns 242,417 shares in the company, valued at $11,342,691.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,000 shares of company stock valued at $2,213,458. Company insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in 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 buying an additional 2,235 shares in the last quarter. Beacon Financial Group acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at $397,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Westamerica Bancorporation by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,765 shares of the financial services provider's stock valued at $3,033,000 after purchasing an additional 480 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of Westamerica Bancorporation in the 4th quarter valued at $654,000. Finally, Barclays PLC raised its holdings in shares of Westamerica Bancorporation by 39.6% in the 4th quarter. Barclays PLC now owns 55,863 shares of the financial services provider's stock valued at $3,151,000 after purchasing an additional 15,858 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

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.