Westamerica Bancorporation (NASDAQ:WABC) Posts Earnings Results, Hits Expectations

Westamerica Bancorporation (NASDAQ:WABC) released its quarterly earnings results on Thursday. The financial services provider reported $0.74 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74, Briefing.com reports. Westamerica Bancorporation had a net margin of 37.72% and a return on equity of 10.50%.

WABC traded up $0.61 during midday trading on Thursday, hitting $55.48. 107,103 shares of the company traded hands, compared to its average volume of 132,432. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.35 and a beta of 0.67. Westamerica Bancorporation has a 52-week low of $46.94 and a 52-week high of $69.08. The business has a 50 day simple moving average of $56.99 and a two-hundred day simple moving average of $58.21.

Several analysts recently commented on WABC shares. Zacks Investment Research lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Piper Sandler raised their price target on shares of Westamerica Bancorporation from $57.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Finally, BidaskClub lowered shares of Westamerica Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $62.25.

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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Earnings History for Westamerica Bancorporation (NASDAQ:WABC)

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