Potential Price Increase for Westamerica Bancorporation (WABC) After Recent Insider Activity

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Westamerica Bancorporation’s recently made public that its Vice President/General Auditor Belton Curtis unloaded Company’s shares for reported $22748.0 on Aug 03. In the deal valued at $49.04 per share,464 shares were sold. As a result of this transaction, Belton Curtis now holds 0 shares worth roughly $ 0.0.

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Then, Belton Curtis sold 26 shares, generating $1,244 in total proceeds. Upon selling the shares at $48.75, the Vice President/General Auditor now owns 0 shares.

Before that, Hassid Michele R. bought 265 shares. Westamerica Bancorporation shares valued at $9,990 were divested by the Director at a price of $37.70 per share. As a result of the transaction, Hassid Michele R. now holds 623 shares, worth roughly $28147.14.

PT values the company’s stock at a premium of 20.74 to its Friday closing price.

Price Performance Review of WABC

On Friday, Westamerica Bancorporation [NASDAQ:WABC] saw its stock jump 2.61% to $45.18. On the same session, the stock had its day’s lowest price of $44.27, but rose to a high of $45.28. Over the last five days, the stock has gained 2.87%. Westamerica Bancorporation shares have fallen nearly -23.44% since the year began. Nevertheless, the stocks have fallen -19.25% over the past one year. While a 52-week high of $63.86 was reached on 01/03/23, a 52-week low of $35.52 was recorded on 05/04/23. SMA at 50 days reached $44.58, while 200 days put it at $48.57. A total of 0.12 million shares were traded, compared to the trading of 94900.0 shares in the previous session.

Levels Of Support And Resistance For WABC Stock

The 24-hour chart illustrates a support level at 44.54, which if violated will result in even more drops to 43.90. On the upside, there is a resistance level at 45.55. A further resistance level may holdings at 45.92. The Relative Strength Index (RSI) on the 14-day chart is 48.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.07%. Stochastics %K at 19.31% indicates the stock is a buying.

How much short interest is there in Westamerica Bancorporation?

A steep rise in short interest was recorded in Westamerica Bancorporation stocks on Aug 14, 2023, dropping by 41150.0 shares to a total of 0.33 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.37 million shares. There was a decline of -12.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.80% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.15.

Westamerica Bancorporation [WABC] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,631,615 shares, or roughly 13.63% of the outstanding WABC shares. In other words, the investor’s shares have fallen by -139,000 from its previous 13-F filing of 3770615.0. Additionally, The Vanguard Group, Inc. increased 1.44% of its stake after which the total value it holdings stand at $168,731,292, while SSgA Funds Management, Inc. added 7.56% of its stake to hold $65.64 million in the firm. Over the last quarter, American Century Investment Manag purchased 38,801 shares of Westamerica Bancorporation, while Dimensional Fund Advisors LP bought 10,152 shares. At present, Geode Capital Management LLC is holding 588,088 shares valued at $28.93 million. Northern Trust Investments, Inc. owned 532,442 shares of the company at the time of its most recent 13F filing, worth $26.19 million.

According to FactSet, Westamerica Bancorporation’s share price will average $53.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.1 percent from its previous closing price of $44.03. Analysts expect Westamerica Bancorporation stock to reach the higher price of $61.00, while the lowest price estimate is $47.00. However, 4 analysts have rated WABC stock as a Hold in their predictions for 2023.

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