Westamerica Bancorporation (NASDAQ:WABC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Westamerica Bancorporation (NASDAQ:WABC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $48.85 and traded as high as $52.66. Westamerica Bancorporation shares last traded at $52.21, with a volume of 185,018 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.50.

Westamerica Bancorporation Trading Up 0.1%

The company has a market capitalization of $1.30 billion, a PE ratio of 11.55 and a beta of 0.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.26 and a quick ratio of 0.29. The company’s fifty day moving average is $49.78 and its 200-day moving average is $48.84.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. The business had revenue of $66.05 million for the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. On average, analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $0.46 dividend. The ex-dividend date was Monday, February 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 3.5%. Westamerica Bancorporation’s payout ratio is currently 40.71%.

Westamerica Bancorporation announced that its board has approved a stock buyback plan on Thursday, December 18th that permits the company to buyback $2.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Westamerica Bancorporation

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Westamerica Bancorporation during the fourth quarter worth $532,000. Charles Schwab Investment Management Inc. increased its position in Westamerica Bancorporation by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 298,471 shares of the financial services provider’s stock valued at $14,276,000 after buying an additional 14,121 shares in the last quarter. Ieq Capital LLC raised its stake in Westamerica Bancorporation by 36.0% in the fourth quarter. Ieq Capital LLC now owns 59,478 shares of the financial services provider’s stock valued at $2,845,000 after buying an additional 15,745 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Westamerica Bancorporation by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,725 shares of the financial services provider’s stock worth $2,044,000 after acquiring an additional 201 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Westamerica Bancorporation by 33.5% in the fourth quarter. Wells Fargo & Company MN now owns 35,383 shares of the financial services provider’s stock worth $1,692,000 after acquiring an additional 8,869 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.