Westamerica Bancorporation (WABC) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a buy rating to a hold rating in a research report sent to investors on Saturday, BidAskClub reports.

A number of other equities analysts have also recently commented on WABC. Maxim Group reiterated a hold rating on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. BMO Capital Markets reiterated a hold rating and issued a $53.00 target price on shares of Westamerica Bancorporation in a research report on Wednesday, January 23rd.

NASDAQ:WABC traded down $0.30 during trading hours on Friday, reaching $61.74. The company’s stock had a trading volume of 143,628 shares, compared to its average volume of 86,234. The stock has a market cap of $1.66 billion, a PE ratio of 22.53 and a beta of 1.03. Westamerica Bancorporation has a 1 year low of $52.05 and a 1 year high of $65.39.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Westamerica Bancorporation had a net margin of 37.12% and a return on equity of 12.03%.

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Friday, May 3rd. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.40.

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $64.01, for a total value of $64,010.00. Following the sale, the senior vice president now owns 2,482 shares of the company’s stock, valued at approximately $158,872.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in WABC. Teachers Advisors LLC grew its holdings in Westamerica Bancorporation by 1.9% in the 3rd quarter. Teachers Advisors LLC now owns 53,154 shares of the financial services provider’s stock worth $3,198,000 after acquiring an additional 978 shares during the last quarter. Legal & General Group Plc grew its holdings in Westamerica Bancorporation by 7.0% in the 3rd quarter. Legal & General Group Plc now owns 62,150 shares of the financial services provider’s stock worth $3,729,000 after acquiring an additional 4,083 shares during the last quarter. Vanguard Group Inc. grew its holdings in Westamerica Bancorporation by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,899,559 shares of the financial services provider’s stock worth $174,437,000 after acquiring an additional 38,949 shares during the last quarter. Eukles Asset Management bought a new stake in Westamerica Bancorporation in the 4th quarter worth $194,000. Finally, Bank of Montreal Can grew its holdings in Westamerica Bancorporation by 5.1% in the 4th quarter. Bank of Montreal Can now owns 3,777 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 184 shares during the last quarter. 84.62% of the stock is currently owned by institutional investors and hedge funds.

About Westamerica Bancorporation

Westamerica Bancorporation provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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