Westamerica Bancorporation Receives a Hold from Maxim Group

By Ryan Adsit

Maxim Group analyst Michael Diana reiterated a Hold rating on Westamerica Bancorporation (NASDAQ: WABC) today. The company’s shares closed yesterday at $56.83.

Diana said:

“1Q17 core EPS of $0.55 (excluding an accounting change) matched consensus; WABC’s performance metrics were, as usual, very strong. WABC’s deposit franchise remained its greatest strength. However, lack of loan growth remains WABC’s greatest challenge, in our view.”

According to TipRanks.com, Diana is a 4-star analyst with an average return of 6.3% and a 62.0% success rate. Diana covers the Financial sector, focusing on stocks such as Wheeler Real Estate ate Investment Trust Inc, First Savings Financial Group, and ARMOUR Residential REIT Inc.

Westamerica Bancorporation has an analyst consensus of Moderate Sell, with a price target consensus of $47.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2017, James Schneck, the VP of WABC sold 6,500 shares for a total of $364,195.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Westamerica Bancorp operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The company was founded in 1972 and is headquartered in San Rafael, CA.