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Fly News Breaks for October 22, 2019
Oct 22, 2019 | 08:04 EDT
BMO Capital analyst Lana Chan raised her price target on Westamerica to $58 after its Q3 earnings beat driven by a more modest decline in net interest margin and lower expenses. The analyst also raises her FY19 and FY20 EPS views on the bank by 3% and 6% to $2.95 and $2.90 respectively while citing the company's "pristine" credit quality and "very strong" capital ratios. Chan still keeps her Market Perform rating on Westamerica stock given its "significant" premium valuation relative to its peers.
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