StockNews.com Downgrades Westamerica Bancorporation (NASDAQ:WABC) to Sell

by · The Markets Daily

Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other research analysts have also recently commented on WABC. Maxim Group cut Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Piper Sandler increased their price target on Westamerica Bancorporation from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.00.

Get Our Latest Analysis on WABC

Westamerica Bancorporation Trading Up 1.2 %

Shares of WABC stock opened at $48.13 on Thursday. The stock’s fifty day moving average price is $50.23 and its two-hundred day moving average price is $49.18. The company has a market cap of $1.28 billion, a PE ratio of 8.07 and a beta of 0.55. Westamerica Bancorporation has a fifty-two week low of $43.04 and a fifty-two week high of $58.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25.

Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. The firm had revenue of $79.57 million for the quarter, compared to the consensus estimate of $74.28 million. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. Equities analysts predict that Westamerica Bancorporation will post 5.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kimelman & Baird LLC bought a new position in Westamerica Bancorporation during the 2nd quarter worth $36,000. EntryPoint Capital LLC bought a new position in Westamerica Bancorporation during the 1st quarter worth $75,000. GAMMA Investing LLC raised its position in Westamerica Bancorporation by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 226 shares during the last quarter. SG Americas Securities LLC bought a new position in Westamerica Bancorporation during the 1st quarter worth $113,000. Finally, SageView Advisory Group LLC bought a new position in Westamerica Bancorporation during the 1st quarter worth $140,000. 81.89% of the stock is owned by institutional investors.

About Westamerica Bancorporation

(Get Free Report)

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.

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