# Westamerica Bancorporation (WABC)

> Source: Nexqual · https://nexqual.com/WABC · data as of 2026-10-23 14:45 UTC · cite as "Nexqual, Westamerica Bancorporation (WABC), nexqual.com/WABC" · informational, not investment advice.

**Price:** USD 61.69 (-0.37% today) · US market open, as of October 23, 2026 at 14:45 UTC; quotes may be delayed. Prev close 61.92 · day 61.35–62.3 · 52w 46.23–63.61 · market cap $1.43B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $252M, net income $111M (44.0% margin) (SEC filings).
- Valuation: P/E 12.9x (avg 10.0x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $41K; 1 not under a Rule 10b5-1 plan ($41K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $3K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (2 analysts), mean target USD 65 (range 65–65).
- Total return with dividends: 1Y +35.4% vs S&P 500 +14.5%; 5Y +31.4% vs S&P 500 +77.2%.
- Next earnings: 2027-01-14, EPS estimate USD 1.22, revenue estimate $64.7M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $215M | $265M | $324M | $294M | $258M | $252M |
| Net income | $86.5M | $122M | $162M | $139M | $116M | $111M |
| EPS (diluted) | $3.22 | $4.54 | $6.06 | $5.20 | $4.52 | — |
| Free cash flow | $87.4M | $113M | $157M | $140M | $120M | $109M |
| Net margin | 40.3% | 46.1% | 50.0% | 47.2% | 45.0% | 44.0% |
| Revenue growth | +2.5% | +23.3% | +22.2% | -9.2% | -12.2% | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.9x · P/S 5.7x · P/FCF 13.1x · P/B 1.7x · FCF yield 7.62% · Earnings yield 7.77% · Dividend yield (paid, TTM) 3.21% · Buyback yield (TTM) 9.80%
P/E at fiscal year-ends: Dec 2025 10.6x, Dec 2024 10.1x, Dec 2023 9.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-20 | Baker Robert James Jr | SVP/Banking Division Manager | 759 | $41K | 16.9% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $3K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-04-22 | Wondeh Inez | Director | 61 | $3K | 53.78 | Too little history (no open-market trades in 2024) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 2 analysts; mean target USD 65 (low 65, high 65).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Keefe, Bruyette & Woods | Target raised | Market Perform | $64 → $65 |
| 2026-07-17 | Keefe, Bruyette & Woods | Target raised | Market Perform | $60 → $64 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +35.4% | +31.4% |
| S&P 500 (SPY) | +14.5% | +77.2% |
| Per year | +35.4% | +5.6% |
| Volatility (annualized) | 19.3% | 24.1% |
| Max drawdown | -6.5% (Feb 2026→Mar 2026) | -38.6% (Oct 2022→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 3.92 -0.76% · FITB (Fifth Third Bancorp) USD 52.89 -0.65% · DB (Deutsche Bank AG) USD 31.06 -1.35% · TFC (Truist Financial Corporation) USD 48.27 -0.31% · NWG (NatWest Group plc) USD 16.75 -1.41% · NU (Nu Holdings Ltd.) USD 14.81 +0.51%

## More
Full page: https://nexqual.com/WABC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Deposit Account | $3.4M | — | +0.4% |
| Credit Card Merchant Discount | $2.8M | — | +5.7% |
| Debit Card | $1.5M | — | -12.1% |
| Fiduciary & Trust | $965,000 | — | +11.3% |
| ATM Processing Fees | $484,000 | — | +0.4% |
| Financial Service Other | $445,000 | — | -1.1% |
| Total revenue | — | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.22 | $1.17 | +4.3% | $64.7M | 2 |
| Next quarter (ends 2027-03-31) | $1.21 | $1.15 | +5.2% | $63.7M | 2 |
| Current fiscal year (ends 2026-12-31) | $4.74 | $4.63 | +2.2% | $254.4M | 2 |
| Next fiscal year (ends 2027-12-31) | $4.94 | $4.67 | +5.7% | $259.0M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2027-01-14): ±9.8%; earnings reaction alone ±4.3%; last 8 reports averaged ±2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 23.2% | ±7.3% |
| 2027-01-15 | 84 | 25.6% | ±9.8% |