West Coast Community Bancorp Posts 3Q EPS of $1.59
WCCB sits 55% above its 52-week low of $40.2 on elevated volume (6.3× avg).
Summary
West Coast Community Bancorp reported third-quarter earnings per share of $1.59. The stock is trading near its 52-week high, so the print lands with expectations already elevated. This is the first quarterly result since the shares began trading on Nasdaq on September 16, following the SEC registration effectiveness on September 15. The company also recently raised its quarterly dividend to $0.29 per share from the prior quarter, a sign of confidence heading into this report. Third-quarter net interest income came in at $37.1M. No revenue, net income, or year-ago comparison was included in the release, so the quality of the beat versus consensus is not yet clear.
At the time of this announcement, WCCB was trading at $62.47 on NASDAQ in the Finance sector, with a market capitalization of approximately $656.8M. The 52-week trading range was $40.20 to $62.70. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.