Westamerica Bancorporation (NASDAQ: WABC) has reported earnings for its fourth fiscal quarter (ending December 31) of $1.48 versus $1.46 for the same period a year ago — an increase of 1%. This result exceeded the consensus estimate of $1.46 by $0.02. For the latest four quarters through December 31, E.P.S. were $6.06 versus $4.54 for the same period a year ago — an increase of 33%.
Recent Price Action
Westamerica Bancorporation (NASDAQ: WABC) stock declined modestly by -1.5% on 1/18/24. The stock closed at $52.11. Trading volume in this decline was normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -5.3% during the last week.
Current PriceTarget Research Rating
WABC’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Westamerica Bancorporation has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Westamerica Bancorporation has a slightly negative Appreciation Score of 40 but a very high Power Rating of 95, triggering the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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