Westamerica Bancorporation (NASDAQ:WABC) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Westamerica Bancorporation's stock maintains a "hold (c)" rating from Weiss Ratings, with a consensus target price of $52.00 from various analysts.
• The company reported a quarterly earnings per share (EPS) of $1.12, surpassing estimates of $1.08, with a revenue of $64.00 million.
• Institutional investors hold a significant stake in Westamerica Bancorporation, with 81.89% of the company owned by hedge funds and other institutions.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a report on Monday, July 21st. Wall Street Zen raised shares of Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Monday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Westamerica Bancorporation presently has an average rating of "Hold" and a consensus target price of $52.00.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC traded up $1.16 during midday trading on Friday, reaching $48.39. 107,343 shares of the company's stock were exchanged, compared to its average volume of 152,925. The company's 50 day simple moving average is $48.66 and its two-hundred day simple moving average is $48.52. The firm has a market capitalization of $1.23 billion, a PE ratio of 10.54 and a beta of 0.61. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.29.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.04. The company had revenue of $64.00 million during the quarter, compared to the consensus estimate of $64.20 million. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. Equities research analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westamerica Bancorporation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its position in Westamerica Bancorporation by 26.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,453 shares of the financial services provider's stock valued at $323,000 after acquiring an additional 1,354 shares in the last quarter. SG Americas Securities LLC increased its position in Westamerica Bancorporation by 77.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,342 shares of the financial services provider's stock valued at $867,000 after acquiring an additional 7,561 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Westamerica Bancorporation by 10.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,454 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 799 shares in the last quarter. Perigon Wealth Management LLC increased its position in Westamerica Bancorporation by 11.0% in the 3rd quarter. Perigon Wealth Management LLC now owns 10,932 shares of the financial services provider's stock valued at $546,000 after acquiring an additional 1,084 shares in the last quarter. Finally, CWM LLC increased its position in Westamerica Bancorporation by 162.8% in the 3rd quarter. CWM LLC now owns 19,585 shares of the financial services provider's stock valued at $979,000 after acquiring an additional 12,133 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.