Westamerica Bancorporation (NASDAQ:WABC) Reaches New 1-Year High – Here’s What Happened

Westamerica Bancorporation (NASDAQ:WABC) shares hit a new 52-week high during trading on Monday . The stock traded as high as $59.44 and last traded at $59.44, with a volume of 553 shares traded. The stock had previously closed at $57.60.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

Westamerica Bancorporation Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. The business has a 50 day simple moving average of $51.92 and a 200 day simple moving average of $50.55. The stock has a market cap of $1.58 billion, a PE ratio of 10.49 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, hitting the consensus estimate of $1.27. The company had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. On average, equities research analysts forecast that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 2.98%. Westamerica Bancorporation’s payout ratio is 32.06%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in Westamerica Bancorporation by 11.7% during the 2nd quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock worth $92,421,000 after buying an additional 199,721 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in Westamerica Bancorporation by 70.2% in the first quarter. Kennedy Capital Management LLC now owns 252,177 shares of the financial services provider’s stock valued at $12,326,000 after acquiring an additional 104,029 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Westamerica Bancorporation by 54.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,976 shares of the financial services provider’s stock valued at $6,423,000 after acquiring an additional 45,708 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Westamerica Bancorporation by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after purchasing an additional 41,841 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its position in shares of Westamerica Bancorporation by 46.8% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 112,717 shares of the financial services provider’s stock worth $5,470,000 after purchasing an additional 35,912 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.