Westamerica Bancorporation (NASDAQ:WABC) had its price target decreased by BMO Capital Markets from $52.00 to $50.00 in a research report report published on Wednesday. BMO Capital Markets currently has an underperform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Sandler O’Neill reissued a sell rating and issued a $54.00 target price on shares of Westamerica Bancorporation in a research note on Thursday, January 4th. BidaskClub cut Westamerica Bancorporation from a hold rating to a sell rating in a research note on Saturday, January 6th. Maxim Group reissued a hold rating on shares of Westamerica Bancorporation in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $60.00 price objective on shares of Westamerica Bancorporation in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of Hold and an average price target of $54.67.

NASDAQ WABC opened at $56.72 on Wednesday. The stock has a market capitalization of $1,509.16, a P/E ratio of 23.56 and a beta of 0.97. Westamerica Bancorporation has a 1 year low of $49.38 and a 1 year high of $64.26.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $46.00 million for the quarter. Westamerica Bancorporation had a return on equity of 10.73% and a net margin of 27.34%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Monday, May 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 4th. This represents a $1.60 annualized dividend and a yield of 2.82%.

In other Westamerica Bancorporation news, SVP Dennis R. Hansen sold 23,800 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $57.34, for a total value of $1,364,692.00. Following the completion of the sale, the senior vice president now directly owns 26,120 shares in the company, valued at $1,497,720.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James J. Schneck sold 47,200 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $58.79, for a total transaction of $2,774,888.00. Following the completion of the sale, the vice president now owns 6,025 shares of the company’s stock, valued at $354,209.75. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in Westamerica Bancorporation in the third quarter worth about $229,000. Xact Kapitalforvaltning AB purchased a new stake in Westamerica Bancorporation in the fourth quarter worth about $294,000. Millennium Management LLC purchased a new position in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $389,000. Financial Advocates Investment Management purchased a new position in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $469,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Westamerica Bancorporation during the fourth quarter valued at approximately $532,000. Institutional investors and hedge funds own 85.62% of the company’s stock.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.

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