Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) SVP Robert James Baker, Jr. sold 710 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $48.16, for a total transaction of $34,193.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Westamerica Bancorporation Stock Performance
Shares of WABC opened at $48.43 on Friday. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The stock has a market capitalization of $1.29 billion, a PE ratio of 9.31 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.26 and a current ratio of 0.27. The stock has a 50-day simple moving average of $48.88 and a 200-day simple moving average of $51.59.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.07. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. The company had revenue of $66.71 million during the quarter, compared to the consensus estimate of $66.47 million. On average, analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.
Westamerica Bancorporation Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's payout ratio is presently 35.27%.
Hedge Funds Weigh In On Westamerica Bancorporation
Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Westamerica Bancorporation by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 3,505,495 shares of the financial services provider's stock worth $183,898,000 after buying an additional 34,762 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Westamerica Bancorporation by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 875,300 shares of the financial services provider's stock worth $45,919,000 after purchasing an additional 9,928 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Westamerica Bancorporation by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 753,088 shares of the financial services provider's stock valued at $39,515,000 after purchasing an additional 17,649 shares in the last quarter. Northern Trust Corp increased its stake in Westamerica Bancorporation by 17.7% in the fourth quarter. Northern Trust Corp now owns 393,998 shares of the financial services provider's stock valued at $20,669,000 after purchasing an additional 59,325 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Westamerica Bancorporation by 18.6% in the fourth quarter. Nuveen Asset Management LLC now owns 334,637 shares of the financial services provider's stock valued at $17,555,000 after purchasing an additional 52,399 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday. Keefe, Bruyette & Woods cut their price objective on Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a research report on Monday.
Check Out Our Latest Research Report on WABC
Westamerica Bancorporation Company Profile
(
Get Free Report)
Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.
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