Westamerica Bancorp reports results for the quarter ended in June - Earnings Summary

Westamerica Bancorp

18/07/2024 20:52

* Westamerica Bancorp  WABC.OQ  reported quarterly adjusted
earnings of $1.33​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.51.  The mean expectation of three analysts for the
quarter was for earnings of $1.30 per share. Wall Street
expected results to range from $1.28  to $1.32 per share.
    * Revenue fell 8.3% to $74.27 million from a year ago;
analysts
expected $74.04 million. 
    * Westamerica Bancorp's reported EPS for the quarter was
$1.33​.
    * The company reported quarterly net income of $35.46
million.
    * Westamerica Bancorp shares had risen by 18.3% this
quarter and
gained 1.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Westamerica
Bancorp is $57.00 
This summary was machine generated from LSEG data July 18 at
07:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       1.30           1.33           Beat
 Mar. 31 2024      1.37           1.37           Met
 Dec. 31 2023      1.46           1.48           Beat
 Sep. 30 2023      1.39           1.56           Beat