Westamerica Bancorporation (NASDAQ:WABC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Westamerica Bancorporation (NASDAQ:WABC)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $48.64 and traded as high as $50.15. Westamerica Bancorporation shares last traded at $48.98, with a volume of 103,234 shares changing hands.

Analyst Upgrades and Downgrades

WABC has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, October 8th. Wall Street Zen lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Westamerica Bancorporation currently has a consensus rating of “Hold” and a consensus price target of $52.00.

Westamerica Bancorporation Stock Down 0.3%

The firm’s fifty day moving average price is $48.22 and its 200-day moving average price is $48.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $1.22 billion, a P/E ratio of 10.67 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm had revenue of $63.20 million for the quarter, compared to analysts’ expectations of $64.20 million. Westamerica Bancorporation had a return on equity of 13.10% and a net margin of 43.19%. As a group, equities research analysts forecast that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a $0.46 dividend. The ex-dividend date was Monday, November 3rd. This represents a $1.84 annualized dividend and a dividend yield of 3.8%. Westamerica Bancorporation’s dividend payout ratio is 40.09%.

Westamerica Bancorporation announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 18th that permits the company to repurchase $2.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 0.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Westamerica Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of WABC. Raymond James Financial Inc. boosted its position in shares of Westamerica Bancorporation by 4.8% during the 1st quarter. Raymond James Financial Inc. now owns 72,816 shares of the financial services provider’s stock valued at $3,687,000 after purchasing an additional 3,306 shares in the last quarter. Royal Bank of Canada lifted its stake in Westamerica Bancorporation by 6.8% during the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after purchasing an additional 1,183 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Westamerica Bancorporation during the first quarter worth approximately $2,719,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Westamerica Bancorporation by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after buying an additional 642 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Westamerica Bancorporation in the first quarter worth approximately $874,000. 81.89% of the stock is currently owned by institutional investors.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.