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

Westamerica Bancorporation (NASDAQ:WABC) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $58.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 20.51% from the company’s previous close.

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

Westamerica Bancorporation Stock Down 0.7 %

NASDAQ:WABC traded down $0.33 during mid-day trading on Monday, hitting $45.64. 41,727 shares of the company’s stock were exchanged, compared to its average volume of 127,858. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $59.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The company has a market cap of $1.22 billion, a PE ratio of 8.78 and a beta of 0.63. The business has a fifty day moving average price of $49.07 and a 200 day moving average price of $51.66.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $66.47 million. Equities analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Hedge Funds Weigh In On Westamerica Bancorporation

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