Westamerica Bancorporation (NASDAQ:WABC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research report released on Saturday.

WABC has been the topic of a number of other reports. Weiss Ratings upgraded shares of Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods upped their target price on shares of Westamerica Bancorporation from $60.00 to $64.00 and gave the stock a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $61.40 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.22 and a current ratio of 0.20. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 13.52 and a beta of 0.56. The business has a 50 day simple moving average of $57.33 and a 200 day simple moving average of $53.61. Westamerica Bancorporation has a 52-week low of $44.93 and a 52-week high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.07. The firm had revenue of $62.77 million for the quarter, compared to analyst estimates of $61.60 million. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%. During the same quarter in the previous year, the firm posted $1.12 earnings per share.

Westamerica Bancorporation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $0.48 dividend. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, May 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 42.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Westamerica Bancorporation by 36.5% in the second quarter. GAMMA Investing LLC now owns 3,327 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 890 shares in the last quarter. Bank of America Corp DE increased its position in shares of Westamerica Bancorporation by 48.0% during the 1st quarter. Bank of America Corp DE now owns 86,384 shares of the financial services provider’s stock worth $4,505,000 after purchasing an additional 28,009 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Westamerica Bancorporation during the 1st quarter worth approximately $887,000. Royal Bank of Canada raised its stake in shares of Westamerica Bancorporation by 1.9% during the 1st quarter. Royal Bank of Canada now owns 15,039 shares of the financial services provider’s stock worth $784,000 after purchasing an additional 278 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Westamerica Bancorporation during the 1st quarter worth approximately $352,000. 81.89% of the stock is owned by institutional investors and hedge funds.

About Westamerica Bancorporation

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.