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Westamerica Bancorporation  (WABC)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 
Price: $54.7300 $-0.81 -1.458%
Day's High: $56.3 Week Perf: 1.5 %
Day's Low: $ 54.59 30 Day Perf: 15.78 %
Volume (M): 163 52 Wk High: $ 58.49
Volume (M$): $ 8,894 52 Wk Avg: $48.17
Open: $55.94 52 Wk Low: $41.89



 Market Capitalization (Millions $) 1,460
 Shares Outstanding (Millions) 27
 Employees 813
 Revenues (TTM) (Millions $) 319
 Net Income (TTM) (Millions $) 158
 Cash Flow (TTM) (Millions $) 239
 Capital Exp. (TTM) (Millions $) 1

Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company registered under the Bank Holding Company Act of 1956, as amended (“BHCA”). Its legal headquarters are located at 1108 Fifth Avenue, San Rafael, California 94901. Principal administrative offices are located at 4550 Mangels Boulevard, Fairfield, California 94534 and its telephone number is (707) 863-6000. 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” or the “Bank”). The principal communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south. The Company’s strategic focus is on the banking needs of small businesses. In addition, the Bank 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 was incorporated under the laws of the State of California in 1972 as “Independent Bankshares Corporation” pursuant to a plan of reorganization among three previously unaffiliated Northern California banks. The Company operated as a multi-bank holding company until mid-1983, at which time the then six subsidiary banks were merged into a single bank named Westamerica Bank and the name of the holding company was changed to Westamerica Bancorporation.

The Company acquired five banks within its immediate market area during the early to mid 1990’s. In April 1997, the Company acquired ValliCorp Holdings, Inc., parent company of ValliWide Bank, the largest independent bank holding company headquartered in Central California. Under the terms of all of the merger agreements, the Company issued shares of its common stock in exchange for all of the outstanding shares of the acquired institutions. The subsidiary banks acquired were merged with and into WAB. These six aforementioned business combinations were accounted for as poolings-of-interests.

The Gramm-Leach-Bliley Act (the “GLBA”), or the Financial Services Act of 1999, repealed provisions of the Glass-Steagall Act, which had prohibited commercial banks and securities firms from affiliating with each other and engaging in each other’s businesses. Thus, many of the barriers prohibiting affiliations between commercial banks and securities firms have been eliminated.

The BHCA was also amended by the GLBA to allow new “financial holding companies” (“FHCs”) to offer banking, insurance, securities and other financial products to consumers. Specifically, the GLBA amended section 4 of the BHCA in order to provide for a framework for the engagement in new financial activities. A bank holding company (“BHC”) may elect to become an FHC if all its subsidiary depository institutions are well capitalized and well managed. If these requirements are met, a BHC may file a certification to that effect with the FRB and declare that it elects to become an FHC. After the certification and declaration is filed, the FHC may engage either de novo or through an acquisition in any activity that has been determined by the FRB to be financial in nature or incidental to such financial activity. BHCs may engage in financial activities without prior notice to the FRB if those activities qualify under the list of permissible activities in section 4(k) of the BHCA. However, notice must be given to the FRB within 30 days after an FHC has commenced one or more of the financial activities. The Company has not elected to become an FHC.



   Company Address: 1108 FIFTH AVENUE SAN RAFAEL 94901 CA
   Company Phone Number: 863-6000   Stock Exchange / Ticker: NASDAQ WABC
   


Customers Net Income grew by WABC's Customers Net Profit Margin grew to

40.72 %

11.42 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BAC        2.41% 
C      0% 
COF        1.84% 
JPM   -0.13%    
PNC        3.84% 
WFC        2.6% 
• View Complete Report
   



Westamerica Bancorporation

Westamerica Bancorporation reports single-digit revenue decline in recent fiscal period



Westamerica Bancorporation (NASDAQ: WABC) recently released its financial results for the first quarter of 2024, which exhibited a decrease in earnings and revenue compared to the previous year. This article aims to interpret the implications of these results and assess their impact on the company's future prospects.
Decreased Earnings and Revenue:
Westamerica Bancorporation experienced a decrease of -9.27% in earnings per share (EPS) for the financial span ending March 31, 2024. This decline can be attributed to a drop from $1.51 in the corresponding period a year ago to $1.37. Additionally, earnings per share decreased by -7.47% from $1.48 in the prior reporting period.
Furthermore, the company's revenue witnessed a decline of -7.028% to $75.54 million from $81.25 million in the same reporting period a year ago. Sequentially, revenue decreased by -6.001% from $80.37 million in the previous period.

Dividend

Westamerica Bancorporation Declares Quarterly Dividend, Boosting Shareholder Value

Published Thu, Apr 25 2024 3:54 PM UTC


Westamerica Bancorporation (NASDAQ: WABC) has announced a quarterly cash dividend of $0.44 per share on common stock, providing a boost to shareholders' value. The dividend is scheduled to be paid on May 17, 2024, to shareholders of record as of May 6, 2024.
This latest dividend declaration is a positive development for shareholders, as it demonstrates the company's...

Management Changes

Westamerica Bank Appoints Martin Camsey to Board of Directors as Company Continues to Improve ROI

Published Thu, Apr 11 2024 5:42 PM UTC

Westamerica Bank Announces New Board Member
Westamerica Bancorporation has announced the appointment of Martin Camsey to its Board of Directors. The addition of Camsey, a seasoned professional, is expected to bring valuable expertise and insights to the company.
Despite Westamerica Bancorporation's below-average return on investment (ROI) of 2.47% in the fourth quart...

Westamerica Bancorporation

Subheadline: Analysts Warn of Potential Challenges Ahead for Westamerica Bancorporation amid Decreasing Revenue and Earnings Per Share

Westamerica Bancorporation has recently reported moderate revenue growth and profitability in the fourth quarter of 2023, but there are some concerning trends that investors should be aware of. Despite the increase in revenue and profitability, there are several red flags that suggest the stock may face challenges in the future.
Firstly, the decrease in revenue by -2.701% from the preceding period is a cause for concern. This suggests that the company may be struggling to maintain its sales levels, which could indicate a weakening market demand or increased competition. Additionally, the decrease in earnings per share by -5.09% is a significant drop and indicates that the company may be facing challenges in maintaining its profitability.

Dividend

Westamerica Bancorporation Declares Quarterly Cash Dividend

Published Thu, Jan 25 2024 4:52 PM UTC


SAN RAFAEL, Calif., - Westamerica Bancorporation (NASDAQ: WABC) has announced its decision to declare a quarterly cash dividend of $0.44 per share, payable to shareholders of record as of the close of business on February 5, 2024. This dividend follows a strong performance in 2023, with the dividend payout set to arrive on February 16, 2024.
As of the writing of thi...






 

Westamerica Bancorporation's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Westamerica Bancorporation does not provide revenue guidance.

Earnings Outlook
Westamerica Bancorporation does not provide earnings estimates.

 
Geographic Revenue Dispersion




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