Westamerica Bancorporation (WABC) |
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Price: $46.8900
$0.56
1.209%
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Day's High:
| $47.06
| Week Perf:
| -2.23 %
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Day's Low: |
$ 46.01 |
30 Day Perf: |
2.83 % |
Volume (M): |
330 |
52 Wk High: |
$ 57.96 |
Volume (M$): |
$ 15,488 |
52 Wk Avg: |
$45.64 |
Open: |
$46.01 |
52 Wk Low: |
$35.52 |
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Market Capitalization (Millions $) |
1,252 |
Shares
Outstanding (Millions) |
27 |
Employees |
813 |
Revenues (TTM) (Millions $) |
325 |
Net Income (TTM) (Millions $) |
162 |
Cash Flow (TTM) (Millions $) |
-104 |
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
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Customers Net Income grew by |
WABC's Customers Net Profit Margin grew to |
14.09 % |
10.52 %
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Stock Performances by Major Competitors |
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Westamerica Bancorporation
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.
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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...
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Westamerica Bancorporation
Westamerica Bancorporation (WABC) recently announced its financial results for the most recent fiscal period, revealing double-digit revenue and profitability growth. This article aims to interpret these results and speculate on how they will impact the company's future. Revenue and Profitability Surge: In the latest fiscal period, WABC achieved remarkable revenue growth, with figures reaching $82.60 million, marking a 14.505% increase year on year. Additionally, the company saw a quarter-on-quarter revenue rise of 2.499%. This exceptional performance helped WABC outpace many of its competitors in the Commercial Banks industry, which on average reported a business elevation of 7.43% during the same period.
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Dividend
Published Thu, Oct 26 2023 3:40 PM UTC
Westamerica Bancorporation's Quarterly Dividend Declares Positive Outlook for Shareholders Westamerica Bancorporation, a leading financial institution based in California, has announced its latest quarterly cash dividend of $0.44 per share on common stock outstanding. This dividend is payable on November 17, 2023, to shareholders of record at the close of business on Nov...
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Westamerica Bancorporation
Westamerica Bancorporation experienced a slight decline in its shares over the past 7 days, with a decrease of -0.12%. This brings their year to date performance down to -16.35%. Despite this minor setback, the company's shares still trade at a rate that is 37.4% above its 52-week low. However, when examining the company's financial report for the second quarter of 2023, it becomes clear that Westamerica Bancorporation is performing well. The company's bottom-line, or net income, saw a significant increase of 60.64% compared to the previous year. This resulted in earnings of $1.51 per share, showing strong profitability. One of the main factors driving this growth was the company's revenue, which grew by an impressive 37.096%. Westamerica Bancorporation generated $80.58 million in revenue during this period, surpassing its sector peers in the Commercial Banks industry. In fact, the Commercial Banks sector only saw a revenue growth of 12.75% during the same period. Looking further back, the company earned $81.25 million in revenue and $1.51 per share in the prior reporting period, indicating consistent performance. In terms of profitability, net profits for the second quarter of 2023 increased by 59% compared to the same period a year ago, reaching $40.248 million. Westamerica Bancorporation also paid attention to its profit margins, with the net margin rising to 49.95% and the operating margin increasing to 67.93% in the second quarter of 2023. This suggests that the company is effectively managing its costs and operating efficiently. Operating earnings also rose by 60.31% to $54.743 million. However, analysts have noted that the level of accounts receivable has declined to $901.1 million. This decline could be a result of slowing demand, which is something to keep an eye on going forward.
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Per Share |
Current |
Earnings (TTM) |
6.06 $ |
Revenues (TTM) |
12.17 $
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Cash Flow (TTM) |
- |
Cash |
156.97 $
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Book Value |
28.95 $
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Dividend (TTM) |
1.72 $ |
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Per Share |
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Earnings (TTM) |
6.06 $
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Revenues (TTM) |
12.17 $ |
Cash Flow (TTM) |
- |
Cash |
156.97 $
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Book Value |
28.95 $ |
Dividend (TTM) |
1.72 $ |
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Company Estimates |
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• Revenue Outlook
Westamerica Bancorporation does not provide revenue guidance.
• Earnings Outlook
Westamerica Bancorporation does not provide earnings estimates.
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