Westamerica Bancorporation (NASDAQ: WABC) has reported E.P.S. of $1.33 for its second fiscal quarter (ending June 30) versus $1.51 for the same period a year ago — a decline of -12%. However, this result exceeded the consensus estimate of $1.30 by $0.03. For the latest four quarters through June 30, E.P.S. were $5.73 versus $5.77 for the same period a year ago — a decline of -1%.
Recent Price Action
Westamerica Bancorporation (NASDAQ: WABC) stock declined by -3.2% on 7/18/24. The shares closed at $55.54. Moreover, unusually high trading volume at 172% of normal accompanied the decline. The stock has been weak relative to the market over the last nine months but has risen 11.5% during the last week.
Current PriceTarget Research Rating
WABC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Westamerica Bancorporation has a current Value Trend Rating of C (Low Neutral). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Westamerica Bancorporation has a neutral Appreciation Score of 55 but a poor Power Rating of 30, leading to the Low Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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