Westamerica Bancorp (WABC) 11/19/09 PriceWatch Alert Support At Around $51.84
Posted: Thursday, November 19, 2009 8:15 AM EDT
By: Market Intelligence Center Staff
Westamerica Bancorp (NasdaqNM: WABC) closed yesterday at $52.87. 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 51.84 and resistance in the 54.20 range. Technical indicators for the stock are Bullish 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 50 covered call (WQF AJ) for a net debit in the $48.87 area. That is also the break even stock price for this trade. This covered call has a 58 day duration, provides 7.57% downside protection and a 2.31% assigned return rate for a 14.55% annualized return rate (comparison purposes only). Westamerica Bancorp has a current annual dividend yield of 2.66%. [THA-Seven Summits Research]
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