Maxim Group Keeps a Hold Rating on Westamerica Bancorporation

By Austin Angelo

Maxim Group analyst Michael Diana maintained a Hold rating on Westamerica Bancorporation (NASDAQ: WABC) today. The company’s shares closed on Friday at $59.12.

Diana noted:

“WABC’s core performance metrics were, as usual, very strong. WABC’s deposit franchise remained its greatest strength and was the driver for a wider NIM (higher interest income, flat interest expense). Based on WABC’s wider NIM, we are raising our 2018 EPS estimate to $2.69, from $2.65. However, lack of loan growth remains WABC’s greatest challenge.”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 8.3% and a 65.5% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Pennantpark Floating Rate.

Westamerica Bancorporation has an analyst consensus of Moderate Sell, with a price target consensus of $52.50.

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Westamerica Bancorporation’s market cap is currently $1.58B and has a P/E ratio of 28.70. The company has a Price to Book ratio of 2.69.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, John Thorson, the SVP & CFO of WABC sold 5,166 shares for a total of $292,292.

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.