Westamerica Bancorp's Q3 net income falls 19.4%
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Westamerica Bancorp reported a 19.4% decline in Q3 net income, falling to $28.3 million from $29.1 million in Q2, with diluted EPS remaining steady at $1.12. The company repurchased 488,000 shares and maintained high capital ratios. Key drivers included low-cost operations and no provision for credit losses. Analysts rate the stock as a "hold" with a median 12-month price target of $53.00, reflecting a potential upside of 12.3% from its recent closing price of $46.47.
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