Piper Sandler Maintains Neutral Rating for Westamerica Bancorp: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Piper Sandler has maintained a Neutral rating on Westamerica Bancorp (NASDAQ:WABC) but lowered its price target from $56.00 to $55.00. Westamerica Bancorp's shares are currently trading at $52.11, and the new price target suggests a potential upside of 5.55%. The bank, with approximately $7.5 billion in assets, primarily serves commercial clients in central and northern California.
January 19, 2024 | 5:00 pm
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Piper Sandler maintains a Neutral rating on Westamerica Bancorp and lowers the price target to $55, indicating a potential 5.55% increase from the current price of $52.11.
The maintenance of a Neutral rating by Piper Sandler suggests no significant change in the company's outlook, while the slight decrease in the price target could be interpreted as a minor adjustment rather than a significant shift in valuation. The potential 5.55% increase to the new target price is modest, and thus the short-term impact on the stock price is likely to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100