Maxim Group analyst Michael Diana maintained a Hold rating on Westamerica Bancorporation (WABC) today. The company’s shares opened today at $63.10.
Diana wrote:
“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). With a wider NIM and modest loan growth, we expect improved net interest income, so we are raising our 2019 EPS estimate to $3.00, from $2.90. However, lack of material loan growth remains WABC’s greatest challenge, so we are maintaining our Hold rating.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.5% and a 55.6% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Westamerica Bancorporation has an analyst consensus of Moderate Sell, with a price target consensus of $52.
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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 109.5K.
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Westamerica Bancorp operates as a bank holding company. It provides range of banking services to individual and corporate customers in Northern and Central California.
