Westamerica Bancorporation (WABC) was Downgraded by Keefe Bruyette to ” Underperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Keefe Bruyette advised their investors in a research report released on Jul 25, 2016.
On the company’s financial health, Westamerica Bancorporation reported $0.57 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $0.57. The company had revenue of $48.20 million for the quarter, compared to analysts expectations of $48.35 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.58 EPS.
Westamerica Bancorporation opened for trading at $49.49 and hit $49.71 on the upside on Wednesday, eventually ending the session at $49.39, with a gain of 0.08% or 0.04 points. The heightened volatility saw the trading volume jump to 67,755 shares. Company has a market cap of $1,259 M.
In a different news, on May 2, 2016, John A Thorson (SVP/Chief Financial Officer) sold 1,397 shares at $48.72 per share price. According to the SEC, on Apr 27, 2016, David L Robinson (SVP/Banking Division Manager) sold 91,427 shares at $50.20 per share price. On Apr 27, 2016, Dennis R Hansen (SVP/Systems & Operations Mgr.) sold 1,220 shares at $50.22 per share price, according to the Form-4 filing with the securities and exchange commission.
Westamerica Bancorporation is a bank holding company. The Company provides a full range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank Westamerica Bank (WAB). WAB owns 100% of the capital stock of Community Banker Services Corporation (CBSC) a company engaged in providing the Company and its subsidiaries with data processing services and other support functions. The Company provides banking services for businesses such as online services checking savings loans and lines of credit cash management merchant services ExpressDeposit Remote Deposit Capture business trust services bank owned property and preventing business losses. The Company provides banking services for individual customers such as online services checking savings trust services loans and lines of credit overdraft service order checks and manage your account.