John A. Thorson Sells 1,100 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $47.21 on Friday. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $57.96. The firm has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $49.10. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 7.97 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The business had revenue of $78.84 million for the quarter, compared to analyst estimates of $77.34 million. Equities analysts predict that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WABC has been the topic of several analyst reports. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Piper Sandler decreased their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday.

Institutional Trading of Westamerica Bancorporation

Several institutional investors have recently added to or reduced their stakes in WABC. Global Retirement Partners LLC bought a new position in Westamerica Bancorporation in the fourth quarter worth about $31,000. PNC Financial Services Group Inc. lifted its stake in Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock valued at $71,000 after buying an additional 355 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at approximately $99,000. Strs Ohio acquired a new stake in Westamerica Bancorporation in the fourth quarter worth about $112,000. Finally, CWM LLC lifted its holdings in shares of Westamerica Bancorporation by 248.3% in the first quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock valued at $153,000 after buying an additional 2,235 shares during the period. Institutional investors own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.