Westamerica Bancorporation (WABC) Receiving Somewhat Positive News Coverage, Study Shows
Headlines about Westamerica Bancorporation (NASDAQ:WABC) have been trending somewhat positive this week, according to Accern Sentiment. The research group scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Westamerica Bancorporation earned a coverage optimism score of 0.24 on Accern’s scale. Accern also assigned press coverage about the financial services provider an impact score of 45.9927667759884 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Westamerica Bancorporation (NASDAQ:WABC) opened at $58.57 on Friday. The firm has a market cap of $1,563.57, a PE ratio of 30.83 and a beta of 1.01. Westamerica Bancorporation has a 1-year low of $49.38 and a 1-year high of $64.26.
Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $54.03 million for the quarter. Westamerica Bancorporation had a net margin of 26.26% and a return on equity of 10.30%.
WABC has been the topic of a number of recent research reports. BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. BMO Capital Markets restated a “sell” rating and issued a $50.00 target price on shares of Westamerica Bancorporation in a report on Wednesday, January 24th. Sandler O’Neill restated a “sell” rating and issued a $54.00 target price on shares of Westamerica Bancorporation in a report on Thursday, January 4th. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $58.00 price objective on shares of Westamerica Bancorporation in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Westamerica Bancorporation currently has a consensus rating of “Hold” and an average target price of $54.00.
In related news, CFO John A. Thorson sold 8,800 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $62.38, for a total transaction of $548,944.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward B. Sylvester sold 5,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $60.93, for a total transaction of $304,650.00. Following the sale, the director now directly owns 67,490 shares of the company’s stock, valued at approximately $4,112,165.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,000 shares of company stock worth $3,628,482. Insiders own 4.90% of the company’s stock.
About Westamerica Bancorporation
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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