Westamerica Bancorporation (NASDAQ:WABC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Westamerica Bancorporation has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating.
• Keefe, Bruyette & Woods lowered their price target for Westamerica Bancorporation from $55.00 to $54.00, stating a "market perform" rating.
• The company's recent quarterly earnings report indicated an EPS of $1.12, slightly above analysts' expectations of $1.11.

Wall Street Zen upgraded shares of Westamerica Bancorporation (NASDAQ:WABC - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, Keefe, Bruyette & Woods cut their target price on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a report on Monday, July 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $52.00.

Westamerica Bancorporation Stock Up 1.3%

Shares of Westamerica Bancorporation stock traded up $0.62 during trading on Friday, reaching $49.66. The company had a trading volume of 137,067 shares, compared to its average volume of 137,569. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 10.39 and a beta of 0.65. The firm's fifty day moving average is $49.56 and its 200-day moving average is $48.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 0.29. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. The business had revenue of $64.88 million for the quarter, compared to analyst estimates of $65.80 million. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. On average, analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were paid a $0.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $1.84 annualized dividend and a dividend yield of 3.7%. Westamerica Bancorporation's dividend payout ratio (DPR) is presently 38.49%.

Institutional Investors Weigh In On Westamerica Bancorporation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Westamerica Bancorporation by 354.3% during the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider's stock worth $41,000 after purchasing an additional 666 shares in the last quarter. MAI Capital Management boosted its holdings in Westamerica Bancorporation by 126.1% during the second quarter. MAI Capital Management now owns 866 shares of the financial services provider's stock worth $42,000 after buying an additional 483 shares in the last quarter. Strs Ohio bought a new stake in Westamerica Bancorporation during the first quarter worth approximately $96,000. Jones Financial Companies Lllp bought a new stake in Westamerica Bancorporation during the first quarter worth approximately $99,000. Finally, Golden State Wealth Management LLC boosted its holdings in Westamerica Bancorporation by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock worth $126,000 after buying an additional 1,245 shares in the last quarter. 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.