Westamerica Bancorporation (NASDAQ:WABC) Rating Increased to Hold at StockNews.com

Westamerica Bancorporation (NASDAQ:WABC – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Westamerica Bancorporation Stock Down 1.7 %

NASDAQ WABC opened at $50.77 on Friday. The company has a fifty day moving average of $55.99 and a two-hundred day moving average of $57.18. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.21 and a beta of 0.64. Westamerica Bancorporation has a 52 week low of $48.28 and a 52 week high of $63.86.

Institutional Trading of Westamerica Bancorporation

Several hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Westamerica Bancorporation during the second quarter valued at about $25,000. Meeder Asset Management Inc. increased its holdings in Westamerica Bancorporation by 2,776.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 489 shares of the financial services provider’s stock worth $28,000 after buying an additional 472 shares during the period. Nisa Investment Advisors LLC acquired a new position in Westamerica Bancorporation in the 2nd quarter worth approximately $29,000. Bessemer Group Inc. acquired a new position in Westamerica Bancorporation in the 3rd quarter worth approximately $44,000. Finally, Money Concepts Capital Corp acquired a new position in Westamerica Bancorporation in the 4th quarter worth approximately $70,000. 76.65% of the stock is owned by hedge funds and other institutional investors.

About Westamerica Bancorporation

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Westamerica Bancorporation operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California. It offers loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services.