Westamerica Stock Falls On Unusually High Volume (WABC)

NEW YORK ( TheStreet) -- Westamerica (Nasdaq: WABC) is trading at unusually high volume Friday with 673,422 shares changing hands. It is currently at four times its average daily volume and trading down $2.12 (-4.8%) at $42.30 as of 2:15 p.m. ET.

Westamerica has a market cap of $1.31 billion and is part of the financial sector and banking industry. Shares are down 19.9% year to date as of the close of trading on Thursday.

Westamerica Bancorporation operates as the holding company for Westamerica Bank that provides various banking services to individual and corporate customers in northern and central California. The company has a P/E ratio of 14.8, equal to the average banking industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Westamerica as a hold. The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and premium valuation. You can view the full Westamerica Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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