Westamerica Bancorporation [NASDAQ:WABC] will report earnings after markets close on Thursday, January 21st.
WABC Earnings Forecast For The Current Quarter
Westamerica Bancorporation [WABC] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $51.44M and an earnings per share of $0.74 for Dec 2020. Looking further ahead, the company is expected to report revenue of $50.8M at an EPS of $0.72 for Mar 2021. The estimates represent upside of -1.90% and 1.31% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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WABC Earnings Estimates For The Current Year
For the financial year, Westamerica Bancorporation [NASDAQ:WABC] is expected to bring in revenue of $206.05M. The returns are nearly $1.85 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.83, lower than that of FY19 by -$0.15. Estimates put this year’s earnings growth at -5.00%, 1.40% for the next, and at an annual 3.00% over the next 5-year period. As for sales, forecasts are for an increase of 0.90% in the current fiscal year and a further -1.90% over the following year.
WABC Price Performance
On Wall Street, Westamerica Bancorporation [NASDAQ:WABC] finished Tuesday’s session up 0.47% at $59.71. The stock went up to $60.06 at the same session while its lowest single day price was $57.10. In the last five days, it saw a fall of about -1.06%, Westamerica Bancorporation shares gained by almost 7.99% since the beginning of the year. However, the share price has dropped to as low as -13.56% below its one year high. On 01/06/21, the company shares recorded $62.70, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $54.56. The company’s shares have declined by -12.04% in the past year. The 50-day SMA achieved is $56.39 while the 200-day SMA is $57.38. Volume dropped to 0.11 million from 0.19 million in the previous session.
Westamerica Bancorporation [WABC] Valuation Measures
Notably, Westamerica Bancorporation [WABC] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase soonest possible with the prevailing 12-month PE ratio of 20.88. The measure means the stock is exchanging at a premium as compared to the 12.10x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 9.90 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.51 which means WABC serve an unattractive investment opportunity compared to its competitors.
WABC Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 59.71 level, and in case of violation of this particular level, it will cause more drop to 57.85 level. On the upper level, 63.77 is still the key resistance. The stock may increase to the subsequent resistance at 61.92. The Relative Strength Index (RSI) pinned on the 14-day chart is 62.18, implying a neutral technical stance while the MACD stands at 1.03, meaning price will increase in the next trading period. Percent R indicator moved to 34.37%, implying low price movement. Stochastic %K at 63.57% suggest holding the stock.
Is Westamerica Bancorporation [NASDAQ:WABC] a Good Buy Right Now?
It should be noted that WABC technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Buy. The average signal changed from 8% Buy in the last week and compares with 80% Sell in the past month. Data from Westamerica Bancorporation’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.13 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.12 million shares while the medium term average advocated for Hold. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.11 million shares.
What is the short interest in Westamerica Bancorporation?
Short interest in the Westamerica Bancorporation stock has surged, increasing by 40000.0 shares to total 1.02 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020 stand at 1.06 million, data from Yahoo Finance shows. The decrease of -3.92% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 6.47% of the overall float for the stock.
Westamerica Bancorporation’s Biggest Shareholders: Who Owns Westamerica Bancorporation [WABC]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 3,604,843 shares or roughly 13.42% of the outstanding WABC shares. This means their shares have reduced by -100,526 from the 3,604,843 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, T. Rowe Price Associates, Inc. updated stake is worth $178,105,456. Details in the latest 13F filings reveal that The Vanguard Group, Inc. disposed off their -4.98% stake valued at $157,835,312 while American Century Investment Manag cut theirs at $86,455,259. During the last quarter, The Vanguard Group, Inc. liquidated -149,641 of its shares in Westamerica Bancorporation while American Century Investment Manag sold -110,096 shares. The SSgA Funds Management, Inc.’s holdings currently number 887,029 shares at $52964501.59. According to the firm’s last 13F report, Dimensional Fund Advisors LP shares in the company at filing stood at 724,426 shares, roughly $40,053,514.
What are analyst thoughts on Westamerica Bancorporation?
Looking forward to the Westamerica Bancorporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Westamerica Bancorporation stock at $65.00 within the next 12 months, which represents almost 8.14 per cent growth from its previous closing price of $59.71. The highest analysts’ target for Westamerica Bancorporation stock projections is $72.00 and the lowest one is $59.00. Still, 3 analysts sharing their consensus rating for WABC stock in 2021 agree that it is an Overweight.