Westamerica price target lowered to $50 from $54 at Piper Sandler

Piper Sandler lowered the firm’s price target on Westamerica (WABC) to $50 from $54 and keeps a Neutral rating on the shares. Following the quarter, the firm raised its margin outlook, but are forecasting a faster pace of decrease in the loan book. Piper also lowered its provision forecast, reduced its expense outlook and incorporated additional share buybacks.