Westamerica Bancorporation (NASDAQ:WABC) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other analysts have also issued reports about the stock. Sandler O’Neill restated a “sell” rating and set a $54.00 target price on shares of Westamerica Bancorporation in a research note on Thursday, January 4th. BMO Capital Markets restated a “sell” rating and set a $50.00 target price on shares of Westamerica Bancorporation in a research note on Wednesday, January 24th. Maxim Group restated 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 set a $58.00 target price on shares of Westamerica Bancorporation in a research note on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Westamerica Bancorporation currently has an average rating of “Sell” and an average price target of $54.00.

Westamerica Bancorporation (NASDAQ:WABC) traded down $0.35 during mid-day trading on Wednesday, hitting $59.37. 125,235 shares of the company were exchanged, compared to its average volume of 98,202. Westamerica Bancorporation has a 12-month low of $49.38 and a 12-month high of $64.26. The stock has a market capitalization of $1,570.00, a price-to-earnings ratio of 31.25 and a beta of 1.07.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.58 earnings per share for the quarter. Westamerica Bancorporation had a net margin of 26.26% and a return on equity of 10.30%. The firm had revenue of $54.03 million for the quarter.

In related news, SVP Dennis R. Hansen sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $58.13, for a total value of $1,162,600.00. Following the completion of the transaction, the senior vice president now directly owns 19,721 shares of the company’s stock, valued at $1,146,381.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward B. Sylvester sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $60.93, for a total value of $304,650.00. Following the completion of the transaction, the director now directly owns 67,490 shares of the company’s stock, valued at $4,112,165.70. The disclosure for this sale can be found here. Insiders sold 33,800 shares of company stock valued at $2,016,194 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in WABC. Schwab Charles Investment Management Inc. boosted its holdings in Westamerica Bancorporation by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 165,570 shares of the financial services provider’s stock valued at $9,279,000 after purchasing an additional 8,875 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Westamerica Bancorporation by 16.6% in the second quarter. Wells Fargo & Company MN now owns 58,815 shares of the financial services provider’s stock valued at $3,296,000 after purchasing an additional 8,379 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Westamerica Bancorporation by 2.0% in the second quarter. TIAA CREF Investment Management LLC now owns 82,750 shares of the financial services provider’s stock valued at $4,637,000 after purchasing an additional 1,634 shares in the last quarter. BlackRock Inc. boosted its holdings in Westamerica Bancorporation by 0.7% in the second quarter. BlackRock Inc. now owns 3,213,258 shares of the financial services provider’s stock valued at $180,071,000 after purchasing an additional 20,775 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in Westamerica Bancorporation by 5.8% in the second quarter. Thrivent Financial For Lutherans now owns 15,800 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 860 shares in the last quarter. 85.71% of the stock is owned by hedge funds and other institutional investors.

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About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

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