BidaskClub Upgrades Westamerica Bancorporation (NASDAQ:WABC) to “Hold”

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BidaskClub upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Separately, Maxim Group restated a hold rating on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

Shares of Westamerica Bancorporation stock opened at $61.47 on Tuesday. Westamerica Bancorporation has a 52-week low of $52.05 and a 52-week high of $65.39. The company has a market capitalization of $1.66 billion, a PE ratio of 21.97 and a beta of 0.99. The business has a 50 day moving average price of $61.10.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter. Westamerica Bancorporation had a net margin of 37.12% and a return on equity of 12.03%. The firm had revenue of $50.57 million for the quarter.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.78%.

In related news, SVP George S. Ensinger sold 1,000 shares of Westamerica Bancorporation stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $64.01, for a total value of $64,010.00. Following the sale, the senior vice president now owns 2,482 shares in the company, valued at $158,872.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. bought a new stake in Westamerica Bancorporation in the first quarter valued at $136,000. Crossmark Global Holdings Inc. bought a new stake in Westamerica Bancorporation in the first quarter valued at $223,000. Everence Capital Management Inc. bought a new stake in Westamerica Bancorporation in the first quarter valued at $248,000. Hanson McClain Inc. boosted its holdings in Westamerica Bancorporation by 8.8% in the first quarter. Hanson McClain Inc. now owns 4,223 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 343 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC bought a new stake in Westamerica Bancorporation in the first quarter valued at $311,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

About Westamerica Bancorporation

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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