Westamerica Bancorporation (NASDAQ:WABC) Announces Earnings Results, Beats Expectations By $0.02 EPS

Westamerica Bancorporation (NASDAQ:WABC) announced its earnings results on Thursday. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02, Fidelity Earnings reports. Westamerica Bancorporation had a net margin of 38.24% and a return on equity of 11.75%. The firm had revenue of $51.16 million for the quarter.

NASDAQ:WABC traded up $0.37 during trading hours on Friday, reaching $68.38. 133 shares of the company were exchanged, compared to its average volume of 99,333. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 22.90 and a beta of 0.98. Westamerica Bancorporation has a 52-week low of $58.56 and a 52-week high of $68.92. The stock has a 50 day simple moving average of $66.86 and a 200 day simple moving average of $63.99.

In other Westamerica Bancorporation news, CFO John A. Thorson sold 14,467 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $66.00, for a total transaction of $954,822.00. Following the transaction, the chief financial officer now owns 14,467 shares of the company’s stock, valued at $954,822. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP George S. Ensinger sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $66.20, for a total transaction of $99,300.00. Following the transaction, the senior vice president now directly owns 1,485 shares in the company, valued at approximately $98,307. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

A number of brokerages recently issued reports on WABC. BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. ValuEngine upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. BMO Capital Markets raised their target price on shares of Westamerica Bancorporation from $49.00 to $58.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a research report on Monday, October 21st.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation provides banking solutions. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. The company's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Earnings History for Westamerica Bancorporation (NASDAQ:WABC)

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