Insider Selling: Westamerica Bancorporation (NASDAQ:WABC) CFO Sells 1,100 Shares of Stock

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

Westamerica Bancorporation Stock Performance

WABC stock opened at $47.86 on Thursday. The company has a fifty day moving average price of $46.97 and a 200-day moving average price of $49.11. The company has a market capitalization of $1.28 billion, a P/E ratio of 8.08 and a beta of 0.56. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, April 18th. 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 the consensus estimate of $77.34 million. As a group, sell-side analysts forecast that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Westamerica Bancorporation

Several large investors have recently modified their holdings of WABC. Global Retirement Partners LLC acquired a new stake in shares of Westamerica Bancorporation during the fourth quarter worth $31,000. PNC Financial Services Group Inc. grew its holdings in Westamerica Bancorporation by 27.5% in the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 355 shares during the period. GAMMA Investing LLC acquired a new stake in Westamerica Bancorporation in the fourth quarter worth $99,000. Strs Ohio acquired a new stake in Westamerica Bancorporation in the fourth quarter worth $112,000. Finally, CWM LLC grew its holdings in Westamerica Bancorporation by 248.3% in the first quarter. CWM LLC now owns 3,135 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 2,235 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

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.