Westamerica Bancorporation (WABC) Downgraded to Hold at BidaskClub
Westamerica Bancorporation (NASDAQ:WABC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Shares of Westamerica Bancorporation (WABC) traded down $0.72 during trading on Tuesday, hitting $59.44. The stock had a trading volume of 58,000 shares, compared to its average volume of 104,753. Westamerica Bancorporation has a twelve month low of $49.38 and a twelve month high of $65.07. The firm has a market cap of $1,584.95, a price-to-earnings ratio of 26.16 and a beta of 1.07.
Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The business had revenue of $45.22 million for the quarter.
Institutional investors have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at $204,000. Wealthsource Partners LLC purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter valued at $208,000. Janney Montgomery Scott LLC purchased a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at $229,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Westamerica Bancorporation in the 3rd quarter valued at $305,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter valued at $319,000. 85.97% of the stock is currently owned by institutional investors and hedge funds.
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About Westamerica Bancorporation
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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