Westamerica Bancorp (WABC) 11/10/09 PriceWatch Alert Targets 10.87% Return
Posted: Tuesday, November 10, 2009 8:30 AM EDT
By: Market Intelligence Center Staff
Westamerica Bancorp (NasdaqNM: WABC) closed yesterday at $49.22. So far the stock has hit a 52-week low of $33.08 and 52-week high of $56.79. Westamerica Bancorp stock has been showing support around 48.01 and resistance in the 49.95 range. Technical indicators for the stock are Bearish and S&P gives WABC a neutral 3 STAR (out of 5) hold rating. WABC appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 45 covered call (WQF AI) for a net debit in the $44.12 area. That is also the break even stock price for this trade. This covered call has a 67 day duration, provides 10.36% downside protection and a 1.99% assigned return rate for a 10.87% annualized return rate (comparison purposes only). Westamerica Bancorp has a current annual dividend yield of 2.88%. [ATU-Seven Summits Research]
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