Westamerica Bancorporation (NASDAQ:WABC) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Westamerica Bancorporation (NASDAQ:WABC)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $48.85 and traded as high as $52.66. Westamerica Bancorporation shares last traded at $52.21, with a volume of 185,018 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westamerica Bancorporation presently has an average rating of “Hold” and an average target price of $52.50.

Westamerica Bancorporation Stock Up 0.1%

The stock has a fifty day moving average of $49.78 and a two-hundred day moving average of $48.85. The company has a quick ratio of 0.29, a current ratio of 0.26 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 11.55 and a beta of 0.62.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The company had revenue of $66.05 million for the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. As a group, analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation’s payout ratio is 40.71%.

Westamerica Bancorporation declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 18th that allows the company to buyback $2.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Westamerica Bancorporation

A number of hedge funds have recently made changes to their positions in WABC. Marshall Wace LLP acquired a new position in shares of Westamerica Bancorporation during the 4th quarter valued at $532,000. Charles Schwab Investment Management Inc. raised its position in Westamerica Bancorporation by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 298,471 shares of the financial services provider’s stock valued at $14,276,000 after purchasing an additional 14,121 shares during the period. Ieq Capital LLC lifted its stake in shares of Westamerica Bancorporation by 36.0% during the fourth quarter. Ieq Capital LLC now owns 59,478 shares of the financial services provider’s stock worth $2,845,000 after purchasing an additional 15,745 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Westamerica Bancorporation by 0.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,725 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 201 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Westamerica Bancorporation by 33.5% in the fourth quarter. Wells Fargo & Company MN now owns 35,383 shares of the financial services provider’s stock worth $1,692,000 after buying an additional 8,869 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.