Westamerica Bancorporation (NASDAQ:WABC) Price Target Lowered to $55.00 at Keefe, Bruyette & Woods

Westamerica Bancorporation (NASDAQ:WABC) had its price objective cut by Keefe, Bruyette & Woods from $58.00 to $55.00 in a report released on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler dropped their price objective on Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Monday.

Westamerica Bancorporation Price Performance

Westamerica Bancorporation stock opened at $47.75 on Monday. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $59.97. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $48.91 and a 200-day moving average price of $51.58. The firm has a market capitalization of $1.28 billion, a PE ratio of 9.18 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The business had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. As a group, equities research analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current year.

Institutional Trading of Westamerica Bancorporation

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Westamerica Bancorporation by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider’s stock worth $183,898,000 after purchasing an additional 34,762 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Westamerica Bancorporation by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 875,300 shares of the financial services provider’s stock worth $45,919,000 after buying an additional 9,928 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Westamerica Bancorporation by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 753,088 shares of the financial services provider’s stock worth $39,515,000 after buying an additional 17,649 shares during the period. Northern Trust Corp grew its position in shares of Westamerica Bancorporation by 17.7% during the 4th quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider’s stock worth $20,669,000 after buying an additional 59,325 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Westamerica Bancorporation by 18.6% during the fourth quarter. Nuveen Asset Management LLC now owns 334,637 shares of the financial services provider’s stock valued at $17,555,000 after buying an additional 52,399 shares during the period. Institutional investors 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.