Keefe, Bruyette & Woods Resumes Coverage on Westamerica Bancorp (WABC) at Outperform
Tweet
Share
E-mailGet Alerts WABC Hot Sheet
Price: $59.50 -0.63%
Rating Summary:
1 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
1 Buy, 8 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Keefe, Bruyette & Woods resumes coverage on Westamerica Bancorp (NASDAQ: WABC) with a Outperform. PT $60.
KBW analyst says, "We regard WABC to be one of the gold-standard banks in the West Coast, and given a recent sell-off, we consider the current stock price to be an attractive entry point for a quality name in a soft market."
"INDUSTRY OPINION: We advocate a market weight position on regional bank stocks. While fundamentals for the group remain under pressure, with late cycle credit risk, higher regulatory expenses and service charge headwinds, the industry has better access to capital and is now far enough through the credit cycle, given the current valuations, in our view."
For more ratings news on Westamerica Bancorp click here and for the rating history of Westamerica Bancorp click here.
Shares of Westamerica Bancorp closed at $48.91 yesterday.
KBW analyst says, "We regard WABC to be one of the gold-standard banks in the West Coast, and given a recent sell-off, we consider the current stock price to be an attractive entry point for a quality name in a soft market."
"INDUSTRY OPINION: We advocate a market weight position on regional bank stocks. While fundamentals for the group remain under pressure, with late cycle credit risk, higher regulatory expenses and service charge headwinds, the industry has better access to capital and is now far enough through the credit cycle, given the current valuations, in our view."
For more ratings news on Westamerica Bancorp click here and for the rating history of Westamerica Bancorp click here.
Shares of Westamerica Bancorp closed at $48.91 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Keefe, Bruyette & Woods Starts Columbia Financial Inc (CLBK) at Outperform
- BofA Securities Starts Kanzhun Ltd. (BZ) at Neutral
- H.C. Wainwright Assumes Alpha Compute Corp. (ALP) at Neutral
Create E-mail Alert Related Categories
New CoverageRelated Entities
Keefe, Bruyette & WoodsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
