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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash to Debt 2.98
WABC's Cash to Debt is ranked higher than
58% of the 970 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.49 vs. WABC: 2.98 )
Ranked among companies with meaningful Cash to Debt only.
WABC' s 10-Year Cash to Debt Range
Min: 0.17  Med: 0.62 Max: 9.11
Current: 2.98
0.17
9.11
Equity to Asset 0.11
WABC's Equity to Asset is ranked higher than
59% of the 1323 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. WABC: 0.11 )
Ranked among companies with meaningful Equity to Asset only.
WABC' s 10-Year Equity to Asset Range
Min: 0.07  Med: 0.09 Max: 0.12
Current: 0.11
0.07
0.12
Interest Coverage 22.92
WABC's Interest Coverage is ranked higher than
93% of the 1239 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.65 vs. WABC: 22.92 )
Ranked among companies with meaningful Interest Coverage only.
WABC' s 10-Year Interest Coverage Range
Min: 0.68  Med: 2.69 Max: 22.92
Current: 22.92
0.68
22.92
F-Score: 5
WACC vs ROIC
11.30%
28.13%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 41.83
WABC's Operating margin (%) is ranked higher than
75% of the 1388 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 29.90 vs. WABC: 41.83 )
Ranked among companies with meaningful Operating margin (%) only.
WABC' s 10-Year Operating margin (%) Range
Min: 29.28  Med: 51.64 Max: 57.37
Current: 41.83
29.28
57.37
Net-margin (%) 32.12
WABC's Net-margin (%) is ranked higher than
77% of the 1388 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.60 vs. WABC: 32.12 )
Ranked among companies with meaningful Net-margin (%) only.
WABC' s 10-Year Net-margin (%) Range
Min: 19.43  Med: 34.88 Max: 41.8
Current: 32.12
19.43
41.8
ROE (%) 11.23
WABC's ROE (%) is ranked higher than
71% of the 1390 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.16 vs. WABC: 11.23 )
Ranked among companies with meaningful ROE (%) only.
WABC' s 10-Year ROE (%) Range
Min: 11.34  Med: 21.93 Max: 27.88
Current: 11.23
11.34
27.88
ROA (%) 1.20
WABC's ROA (%) is ranked higher than
73% of the 1399 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.84 vs. WABC: 1.20 )
Ranked among companies with meaningful ROA (%) only.
WABC' s 10-Year ROA (%) Range
Min: 1.23  Med: 1.92 Max: 2.78
Current: 1.2
1.23
2.78
ROC (Joel Greenblatt) (%) 207.89
WABC's ROC (Joel Greenblatt) (%) is ranked higher than
78% of the 1381 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 76.24 vs. WABC: 207.89 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
WABC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 14.48  Med: 79.05 Max: 353.4
Current: 207.89
14.48
353.4
Revenue Growth (3Y)(%) -7.30
WABC's Revenue Growth (3Y)(%) is ranked lower than
82% of the 1174 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.00 vs. WABC: -7.30 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
WABC' s 10-Year Revenue Growth (3Y)(%) Range
Min: -9.4  Med: 3.90 Max: 15.2
Current: -7.3
-9.4
15.2
EBITDA Growth (3Y)(%) -8.40
WABC's EBITDA Growth (3Y)(%) is ranked lower than
82% of the 1035 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.40 vs. WABC: -8.40 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
WABC' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -17  Med: 6.20 Max: 22
Current: -8.4
-17
22
EPS Growth (3Y)(%) -8.80
WABC's EPS Growth (3Y)(%) is ranked lower than
82% of the 1042 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.40 vs. WABC: -8.80 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
WABC' s 10-Year EPS Growth (3Y)(%) Range
Min: -14.1  Med: 8.10 Max: 25.2
Current: -8.8
-14.1
25.2
» WABC's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

WABC Guru Trades in Q3 2014

Ken Fisher 888,463 sh (+0.52%)
Bill Frels 5,359 sh (unchged)
» More
Q4 2014

WABC Guru Trades in Q4 2014

Jim Simons 59,435 sh (New)
Bill Frels 5,359 sh (unchged)
Ken Fisher 874,183 sh (-1.61%)
» More
Q1 2015

WABC Guru Trades in Q1 2015

Jim Simons 143,231 sh (+140.99%)
Bill Frels 5,359 sh (unchged)
Ken Fisher 861,858 sh (-1.41%)
» More
Q2 2015

WABC Guru Trades in Q2 2015

Ken Fisher 246,933 sh (-71.35%)
» More
» Details

Insider Trades

Latest Guru Trades with WABC

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Guru Investment Theses on Westamerica Bancorp

Lountzis Asset Management Comments on Westamerica Bancorp - Mar 21, 2014

Westamerica Bancorp is one of the finest banks in the country. However, the stock was selling for 3.5x tangible book value and 19x earnings, both representing excessive valuation levels. Furthermore, the net interest margin continued to decline from 5.11% over a year ago to under 4% today. Finally, with no growth in loan volumes and limited opportunities in the investment portfolio, we felt it was time to sell at a gain of over 40% including dividends.



From Lountzis Asset Management 2013 Annual Letter



Check out latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 21.14
WABC's P/E(ttm) is ranked lower than
79% of the 1251 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. WABC: 21.14 )
Ranked among companies with meaningful P/E(ttm) only.
WABC' s 10-Year P/E(ttm) Range
Min: 11.72  Med: 16.54 Max: 29.55
Current: 21.14
11.72
29.55
Forward P/E 22.08
WABC's Forward P/E is ranked lower than
95% of the 710 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.17 vs. WABC: 22.08 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 21.40
WABC's PE(NRI) is ranked lower than
79% of the 1248 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. WABC: 21.40 )
Ranked among companies with meaningful PE(NRI) only.
WABC' s 10-Year PE(NRI) Range
Min: 11.73  Med: 16.54 Max: 29.52
Current: 21.4
11.73
29.52
P/B 2.38
WABC's P/B is ranked lower than
92% of the 1349 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. WABC: 2.38 )
Ranked among companies with meaningful P/B only.
WABC' s 10-Year P/B Range
Min: 1.92  Med: 3.00 Max: 5.5
Current: 2.38
1.92
5.5
P/S 6.78
WABC's P/S is ranked lower than
89% of the 1371 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.99 vs. WABC: 6.78 )
Ranked among companies with meaningful P/S only.
WABC' s 10-Year P/S Range
Min: 4.05  Med: 6.24 Max: 9.36
Current: 6.78
4.05
9.36
PFCF 20.82
WABC's PFCF is ranked lower than
77% of the 803 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.27 vs. WABC: 20.82 )
Ranked among companies with meaningful PFCF only.
WABC' s 10-Year PFCF Range
Min: 7.87  Med: 14.61 Max: 56.21
Current: 20.82
7.87
56.21
POCF 19.18
WABC's POCF is ranked lower than
82% of the 916 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.79 vs. WABC: 19.18 )
Ranked among companies with meaningful POCF only.
WABC' s 10-Year POCF Range
Min: 7.81  Med: 14.07 Max: 20.39
Current: 19.18
7.81
20.39
EV-to-EBIT 13.86
WABC's EV-to-EBIT is ranked lower than
51% of the 1255 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.99 vs. WABC: 13.86 )
Ranked among companies with meaningful EV-to-EBIT only.
WABC' s 10-Year EV-to-EBIT Range
Min: 6.2  Med: 12.70 Max: 30.8
Current: 13.86
6.2
30.8
Shiller P/E 16.33
WABC's Shiller P/E is ranked higher than
51% of the 770 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 16.76 vs. WABC: 16.33 )
Ranked among companies with meaningful Shiller P/E only.
WABC' s 10-Year Shiller P/E Range
Min: 10.17  Med: 15.32 Max: 23.57
Current: 16.33
10.17
23.57

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 3.15
WABC's Dividend Yield is ranked higher than
60% of the 2204 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.60 vs. WABC: 3.15 )
Ranked among companies with meaningful Dividend Yield only.
WABC' s 10-Year Dividend Yield Range
Min: 1.77  Med: 2.81 Max: 4.1
Current: 3.15
1.77
4.1
Dividend Payout 0.66
WABC's Dividend Payout is ranked lower than
86% of the 1287 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9999.00 vs. WABC: 0.66 )
Ranked among companies with meaningful Dividend Payout only.
WABC' s 10-Year Dividend Payout Range
Min: 0.2  Med: 0.39 Max: 1.24
Current: 0.66
0.2
1.24
Dividend growth (3y) 1.60
WABC's Dividend growth (3y) is ranked lower than
70% of the 657 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.50 vs. WABC: 1.60 )
Ranked among companies with meaningful Dividend growth (3y) only.
WABC' s 10-Year Dividend growth (3y) Range
Min: 1.1  Med: 9.10 Max: 30.5
Current: 1.6
1.1
30.5
Yield on cost (5-Year) 3.38
WABC's Yield on cost (5-Year) is ranked higher than
54% of the 2195 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.03 vs. WABC: 3.38 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
WABC' s 10-Year Yield on cost (5-Year) Range
Min: 1.9  Med: 3.01 Max: 4.4
Current: 3.38
1.9
4.4
Share Buyback Rate 3.10
WABC's Share Buyback Rate is ranked higher than
93% of the 997 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.90 vs. WABC: 3.10 )
Ranked among companies with meaningful Share Buyback Rate only.
WABC' s 10-Year Share Buyback Rate Range
Min: 5.6  Med: 3.00 Max: 0.6
Current: 3.1

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.19
WABC's Price/Tangible Book is ranked lower than
95% of the 1328 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.18 vs. WABC: 3.19 )
Ranked among companies with meaningful Price/Tangible Book only.
WABC' s 10-Year Price/Tangible Book Range
Min: 1.44  Med: 3.97 Max: 17.54
Current: 3.19
1.44
17.54
Price/Projected FCF 0.92
WABC's Price/Projected FCF is ranked lower than
70% of the 775 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.67 vs. WABC: 0.92 )
Ranked among companies with meaningful Price/Projected FCF only.
WABC' s 10-Year Price/Projected FCF Range
Min: 0.74  Med: 1.12 Max: 1.87
Current: 0.92
0.74
1.87
Price/Median PS Value 1.09
WABC's Price/Median PS Value is ranked lower than
52% of the 1280 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.09 vs. WABC: 1.09 )
Ranked among companies with meaningful Price/Median PS Value only.
WABC' s 10-Year Price/Median PS Value Range
Min: 0.44  Med: 0.96 Max: 1.41
Current: 1.09
0.44
1.41
Price/Graham Number 1.72
WABC's Price/Graham Number is ranked lower than
93% of the 1155 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.86 vs. WABC: 1.72 )
Ranked among companies with meaningful Price/Graham Number only.
WABC' s 10-Year Price/Graham Number Range
Min: 0.83  Med: 1.73 Max: 4.61
Current: 1.72
0.83
4.61
Earnings Yield (Greenblatt) (%) 7.19
WABC's Earnings Yield (Greenblatt) (%) is ranked higher than
55% of the 1372 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.70 vs. WABC: 7.19 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
WABC' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 3.2  Med: 7.90 Max: 16.1
Current: 7.19
3.2
16.1
Forward Rate of Return (Yacktman) (%) -0.58
WABC's Forward Rate of Return (Yacktman) (%) is ranked lower than
76% of the 765 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.43 vs. WABC: -0.58 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
WABC' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -2.1  Med: 9.50 Max: 15
Current: -0.58
-2.1
15

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Traded in other countries:WB1.Germany,
Westamerica Bancorp was incorporated under the laws of the State of California in 1972. The Company acts as a holding company for Westamerica Bank which provides banking services to individual and business customers in California. The bank offers deposit services such as: money market savings, checking accounts, non interest demand account deposits, and transaction, savings, and time accounts. Its portfolio of loans includes commercial and residential real estate, commercial and residential real estate construction loans. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south. The Banks competitors includes major banks, smaller community banks, savings and loan associations and credit unions, thrift and loans, mortgage brokerage companies and insurance companies. Other institutions, such as brokerage houses, mutual fund companies, credit card companies, and certain retail establishments have offered investment vehicles which also compete with banks for deposit business. The Company is a bank holding company subject to the BHCA.
» More Articles for WABC

Headlines

Articles On GuruFocus.com
Lountzis Asset Management Comments on Westamerica Bancorp Mar 21 2014 
SVP/CFO of Westamerica Bancorporation John A Thorson sold 21,600 shares Jul 21 2013 
Final Dividend Contenders - Part XII Jun 07 2011 
Westamerica Ban Corp. (WABC) SVP/CFO John A Thorson sells 5,770 Shares Feb 08 2011 
Westamerica Ban Corp. (WABC) Chairman, President & CEO David L Payne sells 27,081 Shares Nov 04 2010 
Westamerica Ban Corp. Reports Operating Results (10-Q) Nov 01 2010 
Westamerica Ban Corp. Reports Operating Results (10-Q) Jul 30 2010 
Westamerica Ban Corp. (WABC) Chairman, President & CEO David L Payne sells 74,400 Shares Jul 22 2010 
Westamerica Ban Corp. Reports Operating Results (10-Q) Apr 30 2010 
Westamerica Ban Corp. (WABC) SVP/CFO John A Thorson sells 6,000 Shares Apr 27 2010 

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