Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson Sells 1,100 Shares of Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $47.24, for a total value of $51,964.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Westamerica Bancorporation Stock Performance

NASDAQ:WABC opened at $47.86 on Thursday. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $57.96. The stock has a market cap of $1.28 billion, a PE ratio of 8.08 and a beta of 0.56. The stock has a 50 day moving average price of $46.97 and a 200 day moving average price of $49.11.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. As a group, analysts predict that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WABC shares. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Piper Sandler decreased their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday.

Institutional Investors Weigh In On Westamerica Bancorporation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Westamerica Bancorporation by 42.1% during the first quarter. Assenagon Asset Management S.A. now owns 128,124 shares of the financial services provider’s stock worth $6,263,000 after acquiring an additional 37,972 shares during the last quarter. CWM LLC increased its stake in Westamerica Bancorporation by 248.3% during the first quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 2,235 shares during the last quarter. Beacon Financial Group acquired a new stake in Westamerica Bancorporation during the fourth quarter worth $397,000. Rafferty Asset Management LLC increased its stake in Westamerica Bancorporation by 31.8% during the fourth quarter. Rafferty Asset Management LLC now owns 26,784 shares of the financial services provider’s stock worth $1,511,000 after acquiring an additional 6,462 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Westamerica Bancorporation during the fourth quarter worth $1,874,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.