Westamerica Bancorporation (NASDAQ:WABC) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Westamerica's share price crossed above its 200-day moving average (200‑day MA $50.07) and last traded around $55.26, reaching as high as $55.44.
• The company beat Q1 estimates with EPS of $1.13 versus $1.08 and revenue of $62.08M, and raised its quarterly dividend to $0.48 (annualized $1.92, ~3.5% yield).
• Analyst views are mixed but the consensus is a Moderate Buy with an average target of $58, following recent ratings changes that included both an upgrade and a downgrade.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.07 and traded as high as $55.44. Westamerica Bancorporation shares last traded at $55.26, with a volume of 161,960 shares.

Analyst Ratings Changes

Several analysts have weighed in on WABC shares. Wall Street Zen cut shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Weiss Ratings upgraded shares of Westamerica Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a "market perform" rating in a research note on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Westamerica Bancorporation Stock Performance

The company has a market capitalization of $1.34 billion, a P/E ratio of 12.31 and a beta of 0.57. The firm's fifty day moving average is $52.15 and its 200-day moving average is $50.07.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $62.08 million for the quarter, compared to analyst estimates of $60.70 million. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%.

Westamerica Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be issued a dividend of $0.48 per share. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, May 4th. This represents a $1.92 annualized dividend and a dividend yield of 3.5%. Westamerica Bancorporation's payout ratio is presently 40.98%.

Insider Activity

In related news, SVP Robert James Baker, Jr. sold 759 shares of Westamerica Bancorporation stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Westamerica Bancorporation

Several hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in Westamerica Bancorporation by 6,915.4% during the 1st quarter. Fifth Third Bancorp now owns 5,472 shares of the financial services provider's stock worth $285,000 after buying an additional 5,394 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Westamerica Bancorporation during the 1st quarter worth approximately $568,000. Assenagon Asset Management S.A. acquired a new stake in Westamerica Bancorporation during the 1st quarter worth approximately $1,835,000. SG Americas Securities LLC boosted its position in Westamerica Bancorporation by 39.0% during the 1st quarter. SG Americas Securities LLC now owns 45,171 shares of the financial services provider's stock worth $2,356,000 after buying an additional 12,672 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $570,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

About Westamerica Bancorporation

Westamerica Bancorporation NASDAQ: WABC is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company's lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.

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