BidaskClub upgraded shares of Westamerica Bancorporation (NASDAQ:WABC) from a sell rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

Separately, Maxim Group restated a hold rating on shares of Westamerica Bancorporation in a report on Friday, July 19th.

WABC stock traded up $0.28 during trading on Thursday, hitting $64.77. 3,678 shares of the company traded hands, compared to its average volume of 69,376. The firm has a market capitalization of $1.71 billion, a PE ratio of 22.59 and a beta of 0.99. Westamerica Bancorporation has a 1 year low of $52.05 and a 1 year high of $65.39. The company has a 50-day moving average of $61.76 and a 200-day moving average of $62.04.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $51.43 million during the quarter. Westamerica Bancorporation had a return on equity of 11.78% and a net margin of 37.08%.

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, August 2nd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors purchased a new stake in Westamerica Bancorporation in the 2nd quarter worth approximately $46,000. Advisory Services Network LLC lifted its holdings 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 buying an additional 655 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Westamerica Bancorporation in the 1st quarter worth approximately $136,000. Crossmark Global Holdings Inc. bought a new position in shares of Westamerica Bancorporation in the 1st quarter worth approximately $223,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $239,000. Institutional investors and hedge funds own 82.12% of the company’s stock.

Westamerica Bancorporation Company Profile

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.

Further Reading: What is the return on assets (ROA) ratio?

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