Westamerica Bancorporation (NASDAQ:WABC) Upgraded by Wall Street Zen to “Hold” Rating

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

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.00.

Westamerica Bancorporation Trading Down 1.2%

NASDAQ:WABC opened at $49.53 on Friday. The company has a fifty day moving average of $49.63 and a 200 day moving average of $49.00. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.26 billion, a P/E ratio of 10.36 and a beta of 0.65.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The company had revenue of $64.88 million during the quarter, compared to analyst estimates of $65.80 million. On average, research analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Institutional Trading of Westamerica Bancorporation

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of Westamerica Bancorporation by 354.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after buying an additional 666 shares during the period. MAI Capital Management grew its position in shares of Westamerica Bancorporation by 126.1% in the 2nd quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock worth $42,000 after buying an additional 483 shares during the period. Strs Ohio purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter worth about $96,000. Jones Financial Companies Lllp purchased a new stake in shares of Westamerica Bancorporation in the 1st quarter worth about $99,000. Finally, Golden State Wealth Management LLC grew its position in shares of Westamerica Bancorporation by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,490 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,245 shares during the period. 81.89% of the stock is owned by hedge funds and other institutional investors.

Westamerica Bancorporation Company Profile

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.