Westamerica Bancorp

WABC · NASDAQ

$61.00+$0.90 (+1.50%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $60.10

WABC analyst rating

HoldConsensus of 1 analyst over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold1
Underperform0
Sell0

12-month price target · 3 analysts

Average $65.28 (+7.0% upside)

Low: $64.64
Now: $61.00
High: $67.20

Upgrades and downgrades

The latest rating actions, newest first

WABC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Keefe, Bruyette & Woods	Oct 16, 2026	Maintains	Market Perform	$64.00 → $65.00	63%
Keefe, Bruyette & Woods	Jul 17, 2026	Maintains	Market Perform	$60.00 → $64.00	63%
Keefe, Bruyette & Woods	Apr 17, 2026	Maintains	Market Perform	$55.00 → $58.00	63%
Keefe, Bruyette & Woods	Jan 20, 2026	Maintains	Market Perform	$53.00 → $55.00	63%

The case for and against

Updated Oct 17, 2024

Bull case

Westamerica Bancorp has demonstrated a robust financial performance, evidenced by a net interest margin increase of 9 basis points to 4.43%, driven by ongoing interest rate benefits and higher yields on both loans and securities. The bank's tangible common equity (TCE) ratio has improved significantly, rising over 200 basis points to 10.4%, which highlights strong profitability reflected in a return on assets (ROA) of 2.35% and a return on tangible common equity (ROTCE) of 26.6%. Additionally, noninterest income from deposit service charges increased, contributing to overall financial stability and leading to upward revisions in earnings per share estimates for both 2023 and 2024.

Bear case

Westamerica Bancorp's financial outlook appears negative primarily due to a decline in net interest income (NII), which decreased approximately 3% to $69.7 million, driven by both a reduced earning asset base and margin compression. The bank also experienced a nearly 4% drop in loans to $886 million, with declines noted particularly in the consumer and commercial and industrial sectors, which may signal weakening demand for credit. Furthermore, the challenging banking sector backdrop, characterized by pressures on NII following the March banking crisis, is likely to continue to negatively impact earnings per share (EPS) estimates moving forward.

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