Westamerica Bancorporation (NASDAQ:WABC) Reaches New 52-Week High – Still a Buy?

Westamerica Bancorporation (NASDAQ:WABC) hit a new 52-week high on Monday . The company traded as high as $59.44 and last traded at $59.44, with a volume of 553 shares trading hands. The stock had previously closed at $57.60.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

Westamerica Bancorporation Trading Down 1.1 %

The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.49 and a beta of 0.54. The company has a fifty day moving average of $52.07 and a two-hundred day moving average of $50.60.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.27. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. The firm had revenue of $74.07 million during the quarter, compared to analysts’ expectations of $72.74 million. On average, research analysts expect that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.06%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 32.06%.

Hedge Funds Weigh In On Westamerica Bancorporation

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its position in Westamerica Bancorporation by 11.7% during the second quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after buying an additional 199,721 shares during the period. Assenagon Asset Management S.A. grew its holdings in Westamerica Bancorporation by 54.2% in the third quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider’s stock valued at $6,423,000 after purchasing an additional 45,708 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Westamerica Bancorporation by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after buying an additional 41,841 shares in the last quarter. Stieven Capital Advisors L.P. boosted its position in shares of Westamerica Bancorporation by 46.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock worth $5,470,000 after buying an additional 35,912 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Westamerica Bancorporation by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock valued at $36,352,000 after acquiring an additional 28,902 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

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.