Westamerica Bancorporation (WABC)
NASDAQ:WABC
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Westamerica Bancorporation
(NASDAQ:WABC)
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Rating:77Outperform
Price Target:
$62.00
â–²(14.67% Upside)
Action:ReiteratedDate:04/28/26
The score is driven primarily by solid financial strength and profitability, tempered by weakening revenue/earnings/free-cash-flow trends since 2023. Technicals are supportive with a clear uptrend and positive momentum, while valuation and income (low P/E and ~3.34% yield) add further support. Recent capital-return corporate actions (buyback expansion and dividend hike) provide an additional positive tailwind.
Positive Factors
High Profitability / Margins
Persistently high net margins (40–49% across 2020–2025) reflect durable pricing power and operating efficiency. This margin durability supports strong internal cash generation, helps absorb credit costs, and underpins sustainable dividend and buyback capacity over multiple quarters.
Negative Factors
Weakening Revenue and Earnings Trend
A sustained decline in revenue and net income across 2024–2025 reduces operating leverage and long‑term growth optionality. If the revenue base does not reaccelerate, profitability will increasingly rely on expense cuts and buybacks rather than organic loan and fee growth.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability / Margins
Persistently high net margins (40–49% across 2020–2025) reflect durable pricing power and operating efficiency. This margin durability supports strong internal cash generation, helps absorb credit costs, and underpins sustainable dividend and buyback capacity over multiple quarters.
Read all positive factors
Westamerica Bancorporation (WABC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.33B
Dividend Yield3.7%
Average Volume (3M)160.41K
Price to Earnings (P/E)11.6
Beta (1Y)0.73
Revenue Growth-11.52%
EPS Growth-10.26%
CountryUS
Employees616
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.13
Shares Outstanding24,189,404
10 Day Avg. Volume146,817
30 Day Avg. Volume160,412
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)1.27
Price to Sales (P/S)4.37
P/FCF Ratio9.94
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue3.95
Enterprise Value/Gross Profit4.15
Enterprise Value/Ebitda6.55
Forecast
1Y Price Target
$58.00Price Target Upside7.27% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)4.44
Revenue Forecast (FY)$240.50M
Westamerica Bancorporation Business Overview & Revenue Model
Company Description
Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savin...
How the Company Makes Money
Westamerica Bancorporation primarily makes money through its banking subsidiary by earning (1) net interest income and (2) noninterest income. Net interest income is generated from the spread between interest earned on interest-earning assets—most...
Westamerica Bancorporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
69
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 271.84M | 311.17M | 327.54M | 266.88M | 216.79M |
| Gross Profit | 258.70M | 293.45M | 324.80M | 264.95M | 214.83M |
| EBITDA | 162.78M | 199.46M | 233.35M | 182.16M | 133.64M |
| Net Income | 116.17M | 138.64M | 161.77M | 122.03M | 86.51M |
Balance Sheet | |||||
| Total Assets | 5.96B | 6.08B | 6.36B | 6.95B | 7.46B |
| Cash, Cash Equivalents and Short-Term Investments | 2.12B | 1.94B | 4.19B | 4.63B | 5.77B |
| Total Debt | 159.50M | 138.31M | 76.98M | 73.54M | 164.23M |
| Total Liabilities | 5.03B | 5.19B | 5.59B | 6.35B | 6.63B |
| Stockholders Equity | 933.51M | 889.96M | 772.89M | 602.11M | 827.10M |
Cash Flow | |||||
| Free Cash Flow | 119.59M | 139.83M | 157.05M | 112.89M | 87.41M |
| Operating Cash Flow | 121.90M | 141.57M | 158.21M | 113.70M | 88.73M |
| Investing Cash Flow | 149.67M | 715.68M | 547.27M | -631.29M | -306.08M |
| Financing Cash Flow | -305.20M | -446.07M | -809.40M | -320.26M | 728.16M |
Westamerica Bancorporation Technical Analysis
Positive
54.07
Price Trends
51.77
Positive
50.27
Positive
49.02
Positive
Market Momentum
0.79
Negative
65.50
Neutral
63.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WABC, the sentiment is Positive. The current price of 54.07 is above the 20-day moving average (MA) of 52.42, above the 50-day MA of 51.77, and above the 200-day MA of 49.02, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 65.50 is Neutral, neither overbought nor oversold. The STOCH value of 63.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WABC.
Westamerica Bancorporation Risk Analysis
Westamerica Bancorporation disclosed 24 risk factors in its most recent earnings report. Westamerica Bancorporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Westamerica Bancorporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.33B | 11.58 | 12.26% | 3.70% | -11.52% | -10.26% | |
76 Outperform | $1.45B | 11.58 | 6.53% | 1.56% | -2.72% | 5.89% | |
75 Outperform | $1.27B | 8.81 | 17.48% | 2.99% | -0.42% | 14.20% | |
74 Outperform | $1.58B | 10.53 | 8.46% | 3.14% | 15.01% | 316.06% | |
73 Outperform | $1.32B | 8.20 | 12.27% | 2.57% | -2.39% | 6.90% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $1.63B | 18.95 | 10.83% | 3.99% | 13.74% | 5.34% |
* Financial Sector Average
WABC
Westamerica Bancorporation
55.26
7.91
16.69%
DCOM
Dime Community Bancshares
36.07
10.45
40.77%
PFBC
Preferred Bank
95.47
15.93
20.03%
RBCAA
Republic Bancorp
76.28
7.76
11.32%
OBK
Origin Bancorp
47.33
15.27
47.64%
BFC
Bank First National
142.76
33.28
30.40%
Westamerica Bancorporation Corporate Events
Executive/Board ChangesShareholder Meetings
Westamerica Shareholders Back Board, Executive Pay and Auditor
Positive
Apr 27, 2026
At Westamerica Bancorporation’s annual meeting of shareholders held on April 23, 2026, proxies were solicited under federal securities regulations, with 20,862,774 of 24,189,404 outstanding common shares represented in person or by proxy. Sh...
Business Operations and StrategyStock Buyback
Westamerica Bancorporation Expands Share Repurchase Authorization Significantly
Positive
Apr 24, 2026
On April 24, 2026, Westamerica Bancorporation said its board approved a 2,000,000-share increase to its stock repurchase authorization, lifting the remaining capacity to 2,785,023 shares, or 11.8% of common stock outstanding as of March 31, 2026. ...
Business Operations and StrategyDividendsFinancial Disclosures
Westamerica Bancorporation Raises Quarterly Dividend Amid Solid Earnings
Positive
Apr 23, 2026
On April 23, 2026, Westamerica Bancorporation’s board declared a quarterly cash dividend of $0.48 per share, a $0.02 increase from the prior quarter, payable May 15, 2026 to shareholders of record as of May 4, 2026. Management said the highe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.