Westamerica Bancorporation (NASDAQ:WABC) Downgraded to Sell Rating by Wall Street Zen

Westamerica Bancorporation (NASDAQ:WABC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

WABC has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, July 21st.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $47.58 on Friday. The business’s fifty day simple moving average is $48.84 and its 200-day simple moving average is $49.20. The company has a market cap of $1.21 billion, a PE ratio of 9.95 and a beta of 0.63. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.11. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $64.88 million for the quarter, compared to the consensus estimate of $65.80 million. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%. Analysts expect that Westamerica Bancorporation will post 4.35 earnings per share 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 the stock. Sterling Capital Management LLC boosted its holdings in Westamerica Bancorporation by 815.6% in the fourth quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 734 shares during the last quarter. Strs Ohio purchased a new stake in shares of Westamerica Bancorporation during the 1st quarter worth about $96,000. Jones Financial Companies Lllp purchased a new stake in shares of Westamerica Bancorporation during the 1st quarter worth about $99,000. Golden State Wealth Management LLC boosted its stake in shares of Westamerica Bancorporation by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,245 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter worth about $201,000. 81.89% of the stock is owned by hedge funds and other institutional investors.

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.