Westamerica Bancorporation (NASDAQ:WABC) CFO Sells $51,964.00 in Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Westamerica Bancorporation Stock Up 0.5 %

WABC opened at $47.44 on Friday. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96. The company has a 50-day moving average price of $47.02 and a 200 day moving average price of $49.11. The company has a market cap of $1.27 billion, a PE ratio of 8.01 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (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 business had revenue of $78.84 million for the quarter, compared to analysts’ expectations of $77.34 million. As a group, sell-side analysts expect that Westamerica Bancorporation will post 5.3 earnings per share for the current year.

Institutional Trading of Westamerica Bancorporation

Several large investors have recently bought and sold shares of WABC. American Century Companies Inc. grew its stake in Westamerica Bancorporation by 20.8% during the 3rd quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after acquiring an additional 206,376 shares in the last quarter. Norges Bank purchased a new stake in Westamerica Bancorporation during the 4th quarter valued at about $9,733,000. Leeward Investments LLC MA purchased a new stake in Westamerica Bancorporation during the 4th quarter valued at about $9,515,000. Kennedy Capital Management LLC purchased a new stake in Westamerica Bancorporation during the 3rd quarter valued at about $2,990,000. Finally, Assenagon Asset Management S.A. grew its stake in Westamerica Bancorporation by 42.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 128,124 shares of the financial services provider’s stock valued at $6,263,000 after acquiring an additional 37,972 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

WABC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Westamerica Bancorporation in a research report on Monday, April 22nd. Piper Sandler reduced their price target on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, StockNews.com downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th.

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.