Maxim Group Reaffirms Their Hold Rating on Westamerica Bancorporation (WABC)

By Jason Carr

Maxim Group analyst Michael Diana maintained a Hold rating on Westamerica Bancorporation (WABCResearch Report) today. The company’s shares closed on Thursday at $63.49, close to its 52-week high of $65.39.

Diana observed:

“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 yields on earning assets, same cost of deposits, and other funding). Lack of loan growth remains WABC’s greatest challenge, so we are maintaining our Hold rating.”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.0% and a 60.7% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.

The the analyst consensus on Westamerica Bancorporation is currently a Hold rating.

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The company has a one-year high of $65.39 and a one-year low of $52.05. Currently, Westamerica Bancorporation has an average volume of 97.41K.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock.

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Westamerica Bancorporation operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California.