Westamerica Bancorporation (WABC) to Issue Quarterly Dividend of $0.44 on May 17th

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.44 per share by the financial services provider on Friday, May 17th. This represents a $1.76 annualized dividend and a yield of 3.71%. The ex-dividend date is Friday, May 3rd.

Westamerica Bancorporation has raised its dividend payment by an average of 1.6% annually over the last three years and has raised its dividend every year for the last 1 years. Westamerica Bancorporation has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Westamerica Bancorporation to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 37.8%.

Westamerica Bancorporation Stock Up 0.5 %

Westamerica Bancorporation stock traded up $0.23 during mid-day trading on Friday, hitting $47.44. The company had a trading volume of 151,506 shares, compared to its average volume of 123,692. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 8.01 and a beta of 0.56. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96. The business has a fifty day moving average of $47.02 and a 200 day moving average of $49.11.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). The company had revenue of $78.84 million during the quarter, compared to analysts’ expectations of $77.34 million. Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. Equities analysts anticipate that Westamerica Bancorporation will post 5.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reduced their target price on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, April 19th. StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd.

Insider Transactions at Westamerica Bancorporation

In other news, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David L. Payne sold 11,272 shares of Westamerica Bancorporation stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares in the company, valued at approximately $11,342,691.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John A. Thorson sold 1,100 shares of Westamerica Bancorporation stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total value of $51,964.00. The disclosure for this sale can be found here. Insiders sold 22,372 shares of company stock valued at $1,074,481 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Westamerica Bancorporation Company Profile

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.