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

Westamerica Bancorporation (NASDAQ:WABC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 price target (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Maxim Group lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Piper Sandler raised their price target on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.00.

Westamerica Bancorporation Trading Down 0.0 %

Shares of WABC traded down $0.01 during trading hours on Tuesday, hitting $48.57. 190,271 shares of the stock were exchanged, compared to its average volume of 138,762. Westamerica Bancorporation has a fifty-two week low of $41.89 and a fifty-two week high of $58.49. The business has a 50-day moving average of $49.81 and a 200-day moving average of $48.33. The firm has a market capitalization of $1.30 billion, a P/E ratio of 8.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.23.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WABC. Charles Schwab Investment Management Inc. increased its position in shares of Westamerica Bancorporation by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after acquiring an additional 18,297 shares in the last quarter. Leeward Investments LLC MA bought a new stake in Westamerica Bancorporation during the fourth quarter worth $9,515,000. Los Angeles Capital Management LLC grew its holdings in Westamerica Bancorporation by 74.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 46,266 shares of the financial services provider’s stock worth $2,610,000 after buying an additional 19,752 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Westamerica Bancorporation by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after buying an additional 21,547 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Westamerica Bancorporation by 21.7% during the 1st quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock valued at $5,936,000 after acquiring an additional 21,624 shares in the last quarter. Institutional investors and hedge funds 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.