Westamerica Bancorporation (NASDAQ:WABC) Reaches New 52-Week High – Should You Buy?

Shares of Westamerica Bancorporation (NASDAQ:WABC) reached a new 52-week high during trading on Monday . The company traded as high as $59.44 and last traded at $59.44, with a volume of 553 shares. The stock had previously closed at $57.60.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th.

Westamerica Bancorporation Stock Up 2.7 %

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 10.49 and a beta of 0.54. The firm has a 50-day moving average of $51.92 and a 200 day moving average of $50.55. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share for the quarter, hitting the consensus estimate of $1.27. The company had revenue of $74.07 million during the quarter, compared to analyst estimates of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. On average, sell-side analysts anticipate that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.98%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

Hedge Funds Weigh In On Westamerica Bancorporation

Institutional investors have recently made changes to their positions in the stock. Kimelman & Baird LLC acquired a new position in shares of Westamerica Bancorporation during the second quarter valued at $36,000. GAMMA Investing LLC raised its holdings in shares of Westamerica Bancorporation by 13.8% during the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after buying an additional 226 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Westamerica Bancorporation during the first quarter worth approximately $113,000. CWM LLC grew its holdings in Westamerica Bancorporation by 16.4% in the 2nd quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock worth $177,000 after buying an additional 514 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Westamerica Bancorporation by 5.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,178 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 221 shares in the last quarter. 81.89% of the stock is owned by institutional investors.

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.