Notable Mover: Is Buying Westamerica Bancorporation Here a Winning Strategy?

Notable Mover: Is Buying Westamerica Bancorporation Here a Winning Strategy?

The stock of Westamerica Bancorporation (NASDAQ:WABC) hit a new 52-week high and has $63.84 target or 3.00% above today’s $61.98 share price. The 9 months bullish chart indicates low risk for the $1.62 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $63.84 price target is reached, the company will be worth $48.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 63,850 shares traded hands. Westamerica Bancorporation (NASDAQ:WABC) has risen 21.24% since April 21, 2016 and is uptrending. It has outperformed by 15.91% the S&P500.

Analysts await Westamerica Bancorporation (NASDAQ:WABC) to report earnings on January, 19.

Westamerica Bancorporation (NASDAQ:WABC) Ratings Coverage

Out of 2 analysts covering Westamerica Bancorporation (NASDAQ:WABC), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Westamerica Bancorporation has been the topic of 5 analyst reports since August 17, 2015 according to StockzIntelligence Inc. On Monday, August 17 the stock rating was upgraded by Zacks to “Sell”. The stock of Westamerica Bancorporation (NASDAQ:WABC) earned “Sell” rating by Zacks on Monday, August 31. The firm has “Sector Perform” rating given on Monday, January 25 by RBC Capital Markets.

According to Zacks Investment Research, “Westamerica Bancorp. is a bank holding company. The company provides a full range of banking services to individual and corporate customers in Northern and Central California through its subsidiary banks, Westamerica Bank and Bank of Lake County. It also owns Westamerica Commercial Credit, Inc., a company engaged in financing accounts receivable and inventory lines of credit and term business loans and Community Banker Services Corporation, a company engaged in providing the company and its subsidiaries data processing services and other support functions.”

Insitutional Activity: The institutional sentiment increased to 1.74 in Q2 2016. Its up 0.90, from 0.84 in 2016Q1. The ratio increased, as 16 funds sold all Westamerica Bancorporation shares owned while 40 reduced positions. 10 funds bought stakes while 37 increased positions. They now own 20.66 million shares or 4.99% less from 21.75 million shares in 2016Q1.
Kcm Inv Advsrs Ltd has invested 0.05% of its portfolio in Westamerica Bancorporation (NASDAQ:WABC). Fdx holds 7,609 shares or 0.02% of its portfolio. Thrivent Fincl For Lutherans accumulated 0% or 12,310 shares. Guggenheim Cap Lc holds 5,860 shares or 0% of its portfolio. Suntrust Banks reported 9,716 shares or 0% of all its holdings. Moreover, Northern Trust has 0.01% invested in Westamerica Bancorporation (NASDAQ:WABC) for 466,968 shares. State Teachers Retirement accumulated 74,520 shares or 0.01% of the stock. Moreover, Invesco Limited has 0.01% invested in Westamerica Bancorporation (NASDAQ:WABC) for 473,547 shares. Kcg has 9,192 shares for 0.01% of their US portfolio. Voya Mgmt Ltd Co has invested 0% of its portfolio in Westamerica Bancorporation (NASDAQ:WABC). Texas Permanent School Fund owns 19,498 shares or 0.01% of their US portfolio. California Employees Retirement last reported 0.01% of its portfolio in the stock. Teachers Retirement System Of The State Of Kentucky holds 0.01% of its portfolio in Westamerica Bancorporation (NASDAQ:WABC) for 7,900 shares. Victory Cap Mngmt Inc holds 0.17% or 866,651 shares in its portfolio. Blackrock Inv Mngmt Limited Liability Corporation last reported 113,510 shares in the company.

Insider Transactions: Since October 24, 2016, the stock had 0 insider buys, and 1 sale for $292,018 net activity. $292,018 worth of shares were sold by SCHNECK JAMES J on Monday, October 24.

More recent Westamerica Bancorporation (NASDAQ:WABC) news were published by: Globenewswire.com which released: “Westamerica Bancorporation Declares Quarterly Dividend and Announces Stock …” on July 28, 2016. Also Globenewswire.com published the news titled: “Westamerica Bancorporation Declares Quarterly Cash Dividend” on October 27, 2016. Nasdaq.com‘s news article titled: “Westamerica Bancorporation (WABC) Ex-Dividend Date Scheduled for November 03, 2016” with publication date: November 02, 2016 was also an interesting one.

WABC Company Profile

Westamerica Bancorporation, incorporated on February 11, 1972, is a bank holding company. The Firm provides a range of banking services to individual and corporate clients in Northern and Central California through its subsidiary bank, Westamerica Bank (WAB or the Bank). The principal communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south. The Company’s strategic focus is on the banking needs of small businesses. The Bank owns capital stock of Community Banker Services Corporation (CBSC), a firm engaged in providing the Company and its subsidiaries with data processing services and other support functions.

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