Weiss Ratings Reiterates Hold (C) Rating for Westamerica Bancorporation (NASDAQ:WABC)

Westamerica Bancorporation (NASDAQ:WABC)‘s stock had its “hold (c)” rating reissued by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also weighed in on WABC. Keefe, Bruyette & Woods decreased their price target on shares of Westamerica Bancorporation from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, July 21st. Wall Street Zen raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.00.

Westamerica Bancorporation Trading Down 1.0%

Shares of Westamerica Bancorporation stock opened at $46.62 on Wednesday. The firm has a market capitalization of $1.19 billion, a PE ratio of 9.75 and a beta of 0.61. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $59.97. The firm’s 50-day moving average price is $48.98 and its 200 day moving average price is $48.70. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11.

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

Hedge Funds Weigh In On Westamerica Bancorporation

Institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of Westamerica Bancorporation by 3.7% in the first quarter. Principal Financial Group Inc. now owns 150,220 shares of the financial services provider’s stock worth $7,606,000 after acquiring an additional 5,356 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Westamerica Bancorporation by 14.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 23,255 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 3,006 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Westamerica Bancorporation in the first quarter worth $1,654,000. Voya Investment Management LLC grew its stake in shares of Westamerica Bancorporation by 54.6% in the first quarter. Voya Investment Management LLC now owns 40,654 shares of the financial services provider’s stock worth $2,058,000 after acquiring an additional 14,362 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Westamerica Bancorporation by 33.2% in the first quarter. Allianz Asset Management GmbH now owns 22,480 shares of the financial services provider’s stock worth $1,138,000 after acquiring an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

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.