Westamerica Bancorporation (NASDAQ:WABC) Stock Rating Upgraded by StockNews.com

Westamerica Bancorporation (NASDAQ:WABC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities analysts have also recently weighed in on the company. Piper Sandler upped their price target on Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Maxim Group cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Westamerica Bancorporation has an average rating of “Hold” and an average price target of $57.00.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $51.80 on Thursday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 8.75 and a beta of 0.55. Westamerica Bancorporation has a twelve month low of $43.82 and a twelve month high of $58.49. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $49.78 and a 200 day moving average of $49.30.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The company had revenue of $79.57 million during the quarter, compared to analysts’ expectations of $74.28 million. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. Sell-side analysts anticipate that Westamerica Bancorporation will post 5.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of large investors have recently made changes to their positions in WABC. American Century Companies Inc. grew its position in shares of Westamerica Bancorporation by 11.7% in the second quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock valued at $92,421,000 after purchasing an additional 199,721 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Westamerica Bancorporation by 70.2% in the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock valued at $12,326,000 after purchasing an additional 104,029 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Westamerica Bancorporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after purchasing an additional 41,841 shares in the last quarter. Stieven Capital Advisors L.P. grew its position in shares of Westamerica Bancorporation by 46.8% in the second quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock valued at $5,470,000 after purchasing an additional 35,912 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Westamerica Bancorporation by 21.7% in the first quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock valued at $5,936,000 after purchasing an additional 21,624 shares in the last quarter. 81.89% of the stock is currently 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.