Westamerica Bancorp (WABC) to Release Earnings on Thursday
Westamerica Bancorp (NASDAQ:WABC) will issue its quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $0.56 per share for the quarter.
Westamerica Bancorp (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Westamerica Bancorp had a net margin of 31.93% and a return on equity of 10.76%. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts expect Westamerica Bancorp to post $2.24 EPS for the current fiscal year and $2.28 EPS for the next fiscal year.
Westamerica Bancorp (NASDAQ:WABC) opened at 48.20 on Wednesday. Westamerica Bancorp has a 52 week low of $40.52 and a 52 week high of $52.18. The stock has a market cap of $1.24 billion, a P/E ratio of 21.14 and a beta of 1.03. The company has a 50-day moving average of $49.82 and a 200-day moving average of $48.70.
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A number of research firms have recently commented on WABC. Zacks Investment Research raised shares of Westamerica Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Keefe, Bruyette & Woods downgraded shares of Westamerica Bancorp from a “market perform” rating to an “underperform” rating and set a $44.00 price objective for the company. in a research note on Friday, July 22nd. Finally, TheStreet downgraded shares of Westamerica Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.33.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Advisors LLC increased its stake in Westamerica Bancorp by 0.9% in the second quarter. BlackRock Advisors LLC now owns 11,865 shares of the financial services provider’s stock worth $584,000 after buying an additional 109 shares during the period. Profund Advisors LLC increased its stake in Westamerica Bancorp by 2.4% in the second quarter. Profund Advisors LLC now owns 6,107 shares of the financial services provider’s stock worth $301,000 after buying an additional 143 shares during the period. Arizona State Retirement System increased its stake in Westamerica Bancorp by 1.5% in the second quarter. Arizona State Retirement System now owns 13,210 shares of the financial services provider’s stock worth $651,000 after buying an additional 200 shares during the period. Parametric Portfolio Associates LLC increased its stake in Westamerica Bancorp by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 86,006 shares of the financial services provider’s stock worth $4,237,000 after buying an additional 244 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Westamerica Bancorp by 4.3% in the second quarter. Thrivent Financial for Lutherans now owns 12,310 shares of the financial services provider’s stock worth $606,000 after buying an additional 510 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
Westamerica Bancorp Company Profile
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. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.
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