Westamerica Bancorporation (NASDAQ:WABC) Upgraded to Hold at Wall Street Zen

Key Points

• Westamerica Bancorporation has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Current market analysts have given WABC a consensus rating of "Hold" with a price target of $52.00.
• The company's recent earnings report showed an EPS of $1.12, exceeding expectations, while revenue came in slightly below forecasts at $64 million.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Monday.

WABC has been the subject of several other reports. Weiss Ratings reissued a "hold (c)" rating on shares of Westamerica Bancorporation in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating for the company in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $52.00.

Westamerica Bancorporation Trading Up 1.9%

WABC opened at $46.65 on Monday. Westamerica Bancorporation has a 12 month low of $42.00 and a 12 month high of $59.97. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $48.82 and a 200 day moving average price of $48.51.

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

Institutional Trading of Westamerica Bancorporation

A number of institutional investors have recently bought and sold shares of WABC. EverSource Wealth Advisors LLC lifted its holdings in Westamerica Bancorporation by 354.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider's stock worth $41,000 after buying an additional 666 shares during the last quarter. MAI Capital Management lifted its holdings in shares of Westamerica Bancorporation by 126.1% in the 2nd quarter. MAI Capital Management now owns 866 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 483 shares during the last quarter. Strs Ohio purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter valued at about $96,000. Jones Financial Companies Lllp purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter valued at about $99,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Westamerica Bancorporation by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider's stock valued at $126,000 after purchasing an additional 1,245 shares during the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

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.

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