BMO Capital Reiterates Their Sell Rating on Westamerica Bancorporation

By Ryan Adsit

BMO Capital analyst Lana Chan reiterated a Sell rating on Westamerica Bancorporation (NASDAQ: WABC) on January 21 and set a price target of $50. The company’s shares closed yesterday at $62.47, close to its 52-week high of $64.26.

According to TipRanks.com, Chan is a 5-star analyst with an average return of 17.0% and a 81.9% success rate. Chan covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc, TCF Financial Corporation, and Cathay General Bancorp.

Currently, the analyst consensus on Westamerica Bancorporation is Moderate Sell and the average price target is $55.33, representing a -11.4% downside.

In a report issued on January 18, Sandler O’Neill also reiterated a Sell rating on the stock with a $57 price target.

Westamerica Bancorporation’s market cap is currently $1.65B and has a P/E ratio of 32.88. The company has a book value ratio of 2.7968.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2017, Dennis Hansen, the SVP of WABC sold 20,000 shares for a total of $1,162,600.

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.