Westamerica Bancorporation (NASDAQ:WABC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.
WABC has been the subject of several other research reports. Keefe, Bruyette & Woods dropped their price objective on 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 upgraded Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Westamerica Bancorporation currently has an average rating of "Hold" and an average target price of $52.00.
Check Out Our Latest Report on Westamerica Bancorporation
Westamerica Bancorporation Trading Down 0.8%
WABC stock traded down $0.40 during trading on Wednesday, hitting $47.10. 114,976 shares of the company traded hands, compared to its average volume of 153,002. The firm has a market capitalization of $1.20 billion, a PE ratio of 9.85 and a beta of 0.61. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The company has a 50-day moving average of $49.03 and a 200-day moving average of $48.75. 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 (NASDAQ:WABC - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%.The business had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. Analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Westamerica Bancorporation
Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Westamerica Bancorporation by 354.3% during the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider's stock valued at $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% during 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 acquired a new position in shares of Westamerica Bancorporation in the 1st quarter valued at $96,000. Jones Financial Companies Lllp acquired a new position in shares of Westamerica Bancorporation in the 1st quarter valued at $99,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Westamerica Bancorporation by 100.0% in 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 during the last quarter. 81.89% of the stock is owned by institutional investors.
About Westamerica Bancorporation
(
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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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