Westamerica Bancorporation’s (WABC) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Westamerica Bancorporation (NASDAQ:WABC) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $57.00 price objective on the financial services provider’s stock, down from their prior price objective of $58.00.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut their price objective on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a neutral rating for the company in a research report on Friday, April 19th. StockNews.com cut shares of Westamerica Bancorporation from a hold rating to a sell rating in a research report on Tuesday, April 16th.

Westamerica Bancorporation Stock Up 0.2 %

Shares of NASDAQ WABC opened at $47.86 on Monday. The firm has a 50-day simple moving average of $46.97 and a 200-day simple moving average of $49.11. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.08 and a beta of 0.56. Westamerica Bancorporation has a 52 week low of $35.52 and a 52 week high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The business had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. As a group, equities research analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current year.

Insider Buying and Selling at Westamerica Bancorporation

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the sale, the chief executive officer now directly owns 242,417 shares in the company, valued at $11,342,691.43. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Westamerica Bancorporation news, CEO David L. Payne sold 10,000 shares of Westamerica Bancorporation stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $49.51, for a total transaction of $495,100.00. Following the completion of the sale, the chief executive officer now directly owns 268,689 shares in the company, valued at $13,302,792.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The disclosure for this sale can be found here. Insiders sold a total of 22,372 shares of company stock worth $1,074,481 over the last three months. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. boosted its stake in shares of Westamerica Bancorporation by 8.3% in the third quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after purchasing an additional 14,206 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the third quarter valued at approximately $2,990,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Westamerica Bancorporation by 44.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 1,562 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Westamerica Bancorporation by 53.3% in the third quarter. Los Angeles Capital Management LLC now owns 26,514 shares of the financial services provider’s stock valued at $1,147,000 after purchasing an additional 9,220 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Westamerica Bancorporation by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,025 shares of the financial services provider’s stock valued at $12,198,000 after purchasing an additional 13,758 shares during the period. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Company Profile

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.