Westamerica Bancorporation (WABC) to Release Earnings on Thursday
Westamerica Bancorporation (NASDAQ:WABC) is scheduled to be releasing its earnings data before the market opens on Thursday, October 19th. Analysts expect Westamerica Bancorporation to post earnings of $0.57 per share for the quarter.
Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $47.90 million for the quarter, compared to analyst estimates of $46.70 million. Westamerica Bancorporation had a return on equity of 10.57% and a net margin of 33.83%. Westamerica Bancorporation’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. On average, analysts expect Westamerica Bancorporation to post $2.32 EPS for the current fiscal year and $2.50 EPS for the next fiscal year.
Shares of Westamerica Bancorporation (WABC) opened at 58.88 on Thursday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.27 and a beta of 1.10. Westamerica Bancorporation has a 12-month low of $47.31 and a 12-month high of $65.34. The company’s 50-day moving average price is $54.93 and its 200 day moving average price is $54.49.
Westamerica Bancorporation declared that its board has initiated a stock buyback program on Thursday, July 27th that allows the company to buyback 1,750,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.
In other Westamerica Bancorporation news, Director Edward B. Sylvester sold 1,260 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $54.40, for a total transaction of $68,544.00. Following the transaction, the director now owns 72,490 shares in the company, valued at approximately $3,943,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Separately, BidaskClub cut Westamerica Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th.
Westamerica Bancorporation Company Profile
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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