Share on StockTwits

Westamerica Bancorp (NASDAQ:WABC) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

The analysts wrote, “Westamerica Bancorp (WABC) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.”

Westamerica Bancorp (NASDAQ:WABC) traded down 0.99% during mid-day trading on Thursday, hitting $51.88. The stock had a trading volume of 30,129 shares. Westamerica Bancorp has a 52 week low of $44.46 and a 52 week high of $57.59. The stock’s 50-day moving average is $50.14 and its 200-day moving average is $52.05. The company has a market cap of $1.365 billion and a P/E ratio of 21.48.

Westamerica Bancorp (NASDAQ:WABC) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.58. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts predict that Westamerica Bancorp will post $2.36 earnings per share for the current fiscal year.

Separately, analysts at Zacks reiterated a “neutral” rating on shares of Westamerica Bancorp in a research note on Tuesday, March 25th. They now have a $57.00 price target on the stock.

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank (NASDAQ:WABC).

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.