Press coverage about Westamerica Bancorporation (NASDAQ:WABC) has been trending somewhat positive on Wednesday, according to Accern. Accern rates the sentiment of news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Westamerica Bancorporation earned a news sentiment score of 0.10 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 46.3309238182564 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Separately, BidaskClub raised shares of Westamerica Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.
Shares of Westamerica Bancorporation (NASDAQ WABC) traded down 0.52% during midday trading on Wednesday, reaching $58.88. 21,438 shares of the company’s stock traded hands. Westamerica Bancorporation has a 52-week low of $47.31 and a 52-week high of $65.34. The stock has a market cap of $1.55 billion, a P/E ratio of 25.27 and a beta of 1.10. The stock has a 50-day moving average price of $54.69 and a 200-day moving average price of $54.46.
Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $47.90 million for the quarter, compared to the consensus estimate of $46.70 million. Westamerica Bancorporation had a net margin of 33.83% and a return on equity of 10.57%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. Analysts forecast that Westamerica Bancorporation will post $2.32 earnings per share for the current year.
Westamerica Bancorporation declared that its board has initiated a share buyback plan on Thursday, July 27th that authorizes the company to buyback 1,750,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Edward B. Sylvester sold 1,260 shares of the business’s stock in a transaction on Monday, July 31st. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is owned by insiders.
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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