Westamerica Bancorporation (NASDAQ:WABC) CFO Sells $51,964.00 in Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $47.44 on Friday. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $57.96. The business’s fifty day moving average is $47.02 and its 200 day moving average is $49.11. The stock has a market capitalization of $1.27 billion, a PE ratio of 8.01 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (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 company had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. As a group, sell-side analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Westamerica Bancorporation by 198.3% in the 3rd quarter. SG Americas Securities LLC now owns 9,701 shares of the financial services provider’s stock worth $420,000 after buying an additional 6,449 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Westamerica Bancorporation by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 30,587 shares of the financial services provider’s stock worth $1,323,000 after purchasing an additional 1,271 shares during the last quarter. Raymond James & Associates boosted its position in Westamerica Bancorporation by 37.0% in the third quarter. Raymond James & Associates now owns 33,040 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 8,931 shares during the last quarter. Bailard Inc. bought a new stake in shares of Westamerica Bancorporation during the 3rd quarter valued at about $359,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Westamerica Bancorporation by 44.3% during the 3rd 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 last quarter. Institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd. StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler reduced their price target 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.

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.