Westamerica Bancorporation (NASDAQ:WABC) Share Price Passes Above 200 Day Moving Average of $62.68

Westamerica Bancorporation (NASDAQ:WABC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.68 and traded as high as $65.85. Westamerica Bancorporation shares last traded at $65.71, with a volume of 30,972 shares.

A number of research analysts have recently commented on the company. ValuEngine raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. BidaskClub lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. Maxim Group reaffirmed a “hold” rating on shares of Westamerica Bancorporation in a research report on Monday, October 21st. Finally, BMO Capital Markets upped their target price on Westamerica Bancorporation from $49.00 to $58.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd.

The company’s fifty day moving average is $65.55 and its 200-day moving average is $62.68. The firm has a market capitalization of $1.76 billion, a P/E ratio of 22.26 and a beta of 0.97.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. The firm had revenue of $51.05 million for the quarter. Westamerica Bancorporation had a net margin of 38.24% and a return on equity of 11.75%.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, November 1st.

In other news, CFO John A. Thorson sold 14,467 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $66.00, for a total value of $954,822.00. Following the sale, the chief financial officer now owns 14,467 shares in the company, valued at $954,822. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP George S. Ensinger sold 1,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $66.20, for a total transaction of $99,300.00. Following the completion of the sale, the senior vice president now owns 1,485 shares in the company, valued at approximately $98,307. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Quest Capital Management Inc. ADV bought a new stake in Westamerica Bancorporation in the 3rd quarter valued at $25,000. Advisory Services Network LLC grew its position in Westamerica Bancorporation by 779.8% in the 2nd quarter. Advisory Services Network LLC now owns 739 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 655 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Westamerica Bancorporation during the 2nd quarter worth about $46,000. Point72 Asset Management L.P. bought a new position in shares of Westamerica Bancorporation during the 3rd quarter worth about $75,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Westamerica Bancorporation during the third quarter valued at about $109,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Westamerica Bancorporation Company Profile (NASDAQ:WABC)

Westamerica Bancorporation provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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