BidaskClub Upgrades Westamerica Bancorporation (NASDAQ:WABC) to “Hold”

BidaskClub upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

Separately, Maxim Group reiterated a hold rating on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

NASDAQ WABC opened at $61.47 on Tuesday. Westamerica Bancorporation has a one year low of $52.05 and a one year high of $65.39. The stock has a 50-day simple moving average of $61.10. The company has a market cap of $1.66 billion, a P/E ratio of 21.97 and a beta of 0.99.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.73 EPS for the quarter. Westamerica Bancorporation had a return on equity of 12.03% and a net margin of 37.12%. The company had revenue of $50.57 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.78%.

In other Westamerica Bancorporation news, SVP George S. Ensinger sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $64.01, for a total transaction of $64,010.00. Following the completion of the sale, the senior vice president now directly owns 2,482 shares in the company, valued at approximately $158,872.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Westamerica Bancorporation by 1.3% during the 4th quarter. BlackRock Inc. now owns 3,905,617 shares of the financial services provider’s stock valued at $217,465,000 after purchasing an additional 51,223 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Westamerica Bancorporation by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 742,424 shares of the financial services provider’s stock valued at $41,339,000 after purchasing an additional 19,762 shares during the period. Northern Trust Corp grew its stake in shares of Westamerica Bancorporation by 1.0% during the 4th quarter. Northern Trust Corp now owns 421,773 shares of the financial services provider’s stock valued at $23,484,000 after purchasing an additional 4,076 shares during the period. Geode Capital Management LLC grew its stake in shares of Westamerica Bancorporation by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 310,837 shares of the financial services provider’s stock valued at $17,307,000 after purchasing an additional 28,005 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Westamerica Bancorporation by 0.8% during the 4th quarter. Principal Financial Group Inc. now owns 216,986 shares of the financial services provider’s stock valued at $12,082,000 after purchasing an additional 1,635 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.

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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