Westamerica Bancorporation (NASDAQ:WABC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.50 and traded as high as $66.37. Westamerica Bancorporation shares last traded at $65.76, with a volume of 1,526 shares.
Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Westamerica Bancorporation from $49.00 to $58.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. BidaskClub downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. ValuEngine raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Westamerica Bancorporation in a research note on Monday, October 21st.
The stock has a market cap of $1.79 billion, a PE ratio of 22.71 and a beta of 0.98. The company’s 50 day moving average is $64.26 and its 200-day moving average is $62.52.
Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The company had revenue of $51.05 million during the quarter. Westamerica Bancorporation had a net margin of 38.24% and a return on equity of 11.75%.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, November 1st.
In other Westamerica Bancorporation news, CFO John A. Thorson sold 14,467 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $66.00, for a total transaction of $954,822.00. Following the completion of the transaction, the chief financial officer now directly owns 14,467 shares of the company’s stock, valued at approximately $954,822. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP George S. Ensinger sold 1,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $66.20, for a total transaction of $99,300.00. Following the transaction, the senior vice president now directly owns 1,485 shares of the company’s stock, valued at $98,307. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in WABC. Quest Capital Management Inc. ADV acquired a new position in Westamerica Bancorporation during the 3rd quarter worth $25,000. Advisory Services Network LLC grew its holdings in Westamerica Bancorporation by 779.8% during the 2nd quarter. Advisory Services Network LLC now owns 739 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 655 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Westamerica Bancorporation during the 2nd quarter worth $46,000. Northwest Investment Counselors LLC acquired a new position in Westamerica Bancorporation during the 3rd quarter worth $109,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Westamerica Bancorporation during the 1st quarter worth $136,000. 81.83% of the stock is owned by institutional investors.
Westamerica Bancorporation Company Profile (NASDAQ:WABC)
Westamerica Bancorporation provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.
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