In a report released today, Michael Diana from Maxim Group maintained a Hold rating on Westamerica Bancorporation (NASDAQ: WABC). The company’s shares closed yesterday at $57.18.
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). We are introducing a 2019 EPS estimate of $2.90, which includes a widening NIM throughout 2019. However, lack of loan growth remains WABC’s greatest challenge.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.6% and a 54.9% 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 word on The Street in general, suggests a Moderate Sell analyst consensus rating for Westamerica Bancorporation with a $55 average price target.
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The company has a one-year high of $64.76 and a one-year low of $53.26. Currently, Westamerica Bancorporation has an average volume of 76.64K.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Dennis Hansen, the SVP of WABC sold 16,467 shares for a total of $983,245.
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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.
