Keefe, Bruyette & Woods Has Lowered Expectations for Westamerica Bancorporation (NASDAQ:WABC) Stock Price

Westamerica Bancorporation (NASDAQ:WABC) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $55.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 7.95% from the company’s previous close.

A number of other research firms have also recently issued reports on WABC. Piper Sandler decreased their price target on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Friday, June 27th.

Westamerica Bancorporation Trading Down 0.2%

Shares of Westamerica Bancorporation stock traded down $0.12 on Monday, hitting $50.03. 6,184 shares of the company traded hands, compared to its average volume of 152,754. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $49.06 and its 200-day moving average price is $49.46. The company has a market cap of $1.31 billion, a PE ratio of 10.47 and a beta of 0.64. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a net margin of 43.69% and a return on equity of 13.81%. The firm had revenue of $64.88 million for the quarter, compared to the consensus estimate of $65.80 million. Equities research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Insider Buying and Selling

In other news, SVP John A. Thorson sold 2,243 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the completion of the sale, the senior vice president directly owned 11,591 shares in the company, valued at $562,974.87. The trade was a 16.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert James Baker, Jr. sold 710 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $48.16, for a total value of $34,193.60. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Institutional Trading of Westamerica Bancorporation

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in shares of Westamerica Bancorporation by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider’s stock valued at $7,606,000 after acquiring an additional 5,356 shares during the period. GAMMA Investing LLC raised its stake in shares of Westamerica Bancorporation by 4,946.6% in the 1st quarter. GAMMA Investing LLC now owns 109,310 shares of the financial services provider’s stock valued at $5,534,000 after acquiring an additional 107,144 shares during the period. Two Sigma Advisers LP raised its stake in shares of Westamerica Bancorporation by 15.1% in the 4th quarter. Two Sigma Advisers LP now owns 61,600 shares of the financial services provider’s stock valued at $3,232,000 after acquiring an additional 8,100 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Westamerica Bancorporation by 5.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider’s stock valued at $1,960,000 after acquiring an additional 1,940 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Westamerica Bancorporation by 58.0% during the 4th quarter. Deutsche Bank AG now owns 22,727 shares of the financial services provider’s stock valued at $1,192,000 after acquiring an additional 8,342 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

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.