Westamerica Bancorporation’s (WABC) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group restated their buy rating on shares of Westamerica Bancorporation (NASDAQ:WABCGet Rating) in a research note released on Friday, TipRanks reports. They currently have a $75.00 price target on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. StockNews.com initiated coverage on shares of Westamerica Bancorporation in a report on Thursday, March 31st. They issued a hold rating on the stock. Zacks Investment Research lowered shares of Westamerica Bancorporation from a buy rating to a hold rating in a report on Wednesday, March 23rd.

Shares of NASDAQ:WABC traded up $0.84 during trading on Friday, hitting $61.30. 186,078 shares of the company were exchanged, compared to its average volume of 100,036. The stock has a market capitalization of $1.65 billion, a P/E ratio of 19.04 and a beta of 0.59. Westamerica Bancorporation has a 12-month low of $53.24 and a 12-month high of $65.22. The firm’s 50 day moving average price is $60.12 and its 200-day moving average price is $58.23.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 18th. Stockholders of record on Monday, February 7th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, February 4th. Westamerica Bancorporation’s dividend payout ratio is currently 52.17%.

In other news, SVP George S. Ensinger sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 3rd. The shares were sold at an average price of $58.60, for a total transaction of $58,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in Westamerica Bancorporation by 1,145.5% during the 4th quarter. Parallel Advisors LLC now owns 959 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 882 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $103,000. Fieldpoint Private Securities LLC acquired a new stake in Westamerica Bancorporation during the 4th quarter worth approximately $119,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Westamerica Bancorporation during the 1st quarter worth approximately $136,000. Finally, Advisor Group Holdings Inc. increased its position in Westamerica Bancorporation by 9.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 2,670 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 231 shares in the last quarter. 81.22% of the stock is owned by institutional investors.

About Westamerica Bancorporation (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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