Westamerica Bancorporation (NASDAQ:WABC) announced its quarterly earnings data on Thursday. The financial services provider reported $0.66 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66, Fidelity Earnings reports. Westamerica Bancorporation had a return on equity of 10.30% and a net margin of 26.26%. The firm had revenue of $46.00 million during the quarter.
Shares of WABC traded up $0.12 during mid-day trading on Friday, hitting $57.80. 6,754 shares of the company’s stock traded hands, compared to its average volume of 113,752. Westamerica Bancorporation has a 1 year low of $49.38 and a 1 year high of $64.26. The stock has a market capitalization of $1,517.93, a PE ratio of 24.62 and a beta of 0.97.
Several analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 price objective on shares of Westamerica Bancorporation in a research report on Friday, December 22nd. Maxim Group reissued a “hold” rating on shares of Westamerica Bancorporation in a research note on Friday, January 19th. Sandler O’Neill reissued a “sell” rating and set a $54.00 target price on shares of Westamerica Bancorporation in a research note on Thursday, January 4th. BidaskClub raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, BMO Capital Markets reissued a “sell” rating and set a $50.00 target price on shares of Westamerica Bancorporation in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Westamerica Bancorporation currently has an average rating of “Hold” and a consensus price target of $54.67.
In related news, CFO John A. Thorson sold 8,800 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $62.38, for a total value of $548,944.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward B. Sylvester sold 5,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $60.93, for a total value of $304,650.00. Following the completion of the sale, the director now directly owns 67,490 shares in the company, valued at $4,112,165.70. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $3,628,482 over the last three months. Insiders own 4.50% of the company’s stock.
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About Westamerica Bancorporation
Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.
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