Westamerica Bancorporation (NASDAQ:WABC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Westamerica Bancorporation (NASDAQ:WABC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $51.16 and traded as high as $55.97. Westamerica Bancorporation shares last traded at $55.81, with a volume of 127,089 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WABC. Wall Street Zen cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Keefe, Bruyette & Woods upped their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of Westamerica Bancorporation from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Westamerica Bancorporation Stock Performance

The company’s fifty day moving average price is $53.75 and its 200 day moving average price is $51.16. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.43 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The business had revenue of $62.08 million during the quarter, compared to the consensus estimate of $60.70 million.

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.46. Westamerica Bancorporation’s payout ratio is currently 42.76%.

Insider Buying and Selling at Westamerica Bancorporation

In related news, SVP Robert James Baker, Jr. sold 759 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of institutional investors have recently modified their holdings of WABC. Royal Bank of Canada grew its position in shares of Westamerica Bancorporation by 6.8% during the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock valued at $938,000 after buying an additional 1,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Westamerica Bancorporation by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 642 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Westamerica Bancorporation in the 1st quarter worth about $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Westamerica Bancorporation by 9.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider’s stock worth $3,243,000 after acquiring an additional 5,293 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Westamerica Bancorporation by 815.8% in the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock worth $3,416,000 after acquiring an additional 60,102 shares during the period. Institutional investors own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.