StockNews.AI
WABC
StockNews.AI
173 days

Westamerica Bancorporation Announces Stock Repurchase Plan

1. Westamerica Bancorporation plans to repurchase 2 million shares by March 2026. 2. The repurchase plan accounts for 7.5% of outstanding shares. 3. CEO highlights the company's financial strength and conservative risk profile. 4. This move indicates confidence in sustaining reliable earnings. 5. The company operates banking offices across Northern and Central California.

Shares Buyback
+3.02%Current Return
VS
+0.31%S&P 500
$50.5902/27 02:15 PM EDTEvent Start
$52.1202/28 08:14 PM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bullish?

Share buybacks typically increase demand, supporting stock prices. Historical trends show similar actions resulting in price appreciation.

How important is it?

The stock repurchase plan directly impacts WABC's liquidity and investor confidence, likely affecting market pricing. Given the outlined financial strength, this action is significant for stakeholders and analysts.

Why Short Term?

The immediate effect of buybacks can elevate share prices quickly, supported by market sentiment. Investors often react positively to repurchase announcements, leading to short-term gains.

Related Companies

JPMBACWFCCUSB
February 27, 2025 14:11 ET  | Source: Westamerica Bancorporation SAN RAFAEL, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Westamerica Bancorporation (NASDAQ: WABC) today approved a plan to repurchase, as conditions warrant, up to 2,000,000 shares of the Company’s common stock on the open market or in privately negotiated transactions prior to March 31, 2026. The repurchase plan represents approximately 7.5 percent of the Company’s common stock outstanding as of December 31, 2024. Chairman, President and CEO David Payne stated, “This stock repurchase plan recognizes Westamerica’s financial strength, conservative risk profile and reliable earnings stream.” Westamerica Bancorporation, through its wholly owned subsidiary, Westamerica Bank, operates banking and trust offices throughout Northern and Central California. Westamerica Bancorporation Web Address: www.westamerica.com For additional information contact:Westamerica Bancorporation1108 Fifth Avenue, San Rafael, CA 94901Robert A. Thorson – Investment Relations Contact, 707-863-6090investments@westamerica.com FORWARD-LOOKING INFORMATION: The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company’s most recent reports filed with the Securities and Exchange Commission, including the annual report for the year ended December 31, 2023 filed on Form 10-K and quarterly report for the quarter ended September 30, 2024 filed on Form 10-Q, describe some of these factors, including certain credit, interest rate, operational, liquidity and market risks associated with the Company’s business and operations. Other factors described in these reports include changes in business and economic conditions, competition, fiscal and monetary policies, disintermediation, cyber security risks, legislation including the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2011, the Sarbanes-Oxley Act of 2002 and the Gramm-Leach-Bliley Act of 1999, and mergers and acquisitions. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

Related News