Piper Sandler has revised its price target for Westamerica Bancorporation (WABC, Financial), reducing it from $54 to $50 while maintaining a Neutral rating on the stock. Despite the firm's improved margin outlook in the latest quarter, they anticipate a more rapid decline in the bank's loan book.
This adjustment also includes a lower forecast for loan loss provisions, indicating expectations of reduced future expenses. Additionally, the firm has factored in more share buybacks as part of Westamerica's strategy moving forward.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Westamerica Bancorp (WABC, Financial) is $52.50 with a high estimate of $55.00 and a low estimate of $50.00. The average target implies an upside of 14.20% from the current price of $45.97. More detailed estimate data can be found on the Westamerica Bancorp (WABC) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, Westamerica Bancorp's (WABC, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Westamerica Bancorp (WABC, Financial) in one year is $44.02, suggesting a downside of 4.24% from the current price of $45.97. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Westamerica Bancorp (WABC) Summary page.
