Westamerica Bancorporation (NASDAQ:WABC) Rating Reiterated by Maxim Group

Westamerica Bancorporation (NASDAQ:WABCGet Rating)‘s stock had its “buy” rating reissued by Maxim Group in a research note issued to investors on Friday, TipRanks reports. They presently have a $75.00 price objective on the financial services provider’s stock. Maxim Group’s price objective would suggest a potential upside of 22.35% from the stock’s previous close.

A number of other analysts have also commented on WABC. Zacks Investment Research lowered Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 23rd. StockNews.com assumed coverage on Westamerica Bancorporation in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of NASDAQ:WABC traded up $0.84 during midday trading on Friday, reaching $61.30. The company’s stock had a trading volume of 186,078 shares, compared to its average volume of 100,036. Westamerica Bancorporation has a fifty-two week low of $53.24 and a fifty-two week high of $65.22. The company has a market capitalization of $1.65 billion, a P/E ratio of 19.04 and a beta of 0.59. The business’s fifty day simple moving average is $60.12 and its 200-day simple moving average is $58.23.

Westamerica Bancorporation (NASDAQ:WABCGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. Westamerica Bancorporation had a return on equity of 10.43% and a net margin of 39.90%. During the same period last year, the business earned $0.75 earnings per share. Equities analysts predict that Westamerica Bancorporation will post 3.2 earnings per share for the current year.

In related news, SVP George S. Ensinger sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $58.60, for a total transaction of $58,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.20% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC bought a new stake in Westamerica Bancorporation in the 1st quarter valued at $238,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Westamerica Bancorporation by 29.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,253 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 977 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Westamerica Bancorporation by 2.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 10,867 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 213 shares during the period. SAM Advisors LLC bought a new stake in shares of Westamerica Bancorporation during the 1st quarter valued at $411,000. Finally, Norges Bank bought a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at $11,781,000. 81.22% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Company Profile (Get Rating)

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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