Maxim Group analyst Michael Diana reiterated a Buy rating on Westamerica Bancorporation (WABC – Research Report) yesterday and set a price target of $75.00. The company’s shares closed last Friday at $58.54.
According to TipRanks.com, Diana is a 5-star analyst with an average return of 15.3% and a 53.7% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Generation Income Properties, and Pennantpark Floating Rate.
Currently, the analyst consensus on Westamerica Bancorporation is a Moderate Buy with an average price target of $70.00.
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Based on Westamerica Bancorporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $54.6 million and net profit of $22.06 million. In comparison, last year the company earned revenue of $51.38 million and had a net profit of $20.05 million.
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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. The company provides loans and lines of credit, online services, mobile banking, checking, savings, credit cards, cash management, overdraft services, merchant services, professional banking, bank owned property, preventing business loans, payroll services, and trust services. Westamerica Bancorp was founded in 1972 and is headquartered in San Rafael, CA.
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