Westamerica Bancorporation (NASDAQ:WABC) SVP Sells $30,232.35 in Stock

Westamerica Bancorporation (NASDAQ:WABC) SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.61, for a total value of $30,232.35. Following the transaction, the senior vice president now directly owns 4,073 shares in the company, valued at approximately $193,915.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ:WABC opened at $49.28 on Friday. Westamerica Bancorporation has a one year low of $35.52 and a one year high of $57.96. The stock has a market cap of $1.31 billion, a PE ratio of 8.32 and a beta of 0.56. The business’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $49.24.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm 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%. As a group, equities research analysts predict that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Monday, May 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.76 annualized dividend and a yield of 3.57%. Westamerica Bancorporation’s payout ratio is currently 29.73%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in Westamerica Bancorporation by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after buying an additional 206,376 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Westamerica Bancorporation by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 782,733 shares of the financial services provider’s stock valued at $44,155,000 after purchasing an additional 21,547 shares during the last quarter. Clifford Capital Partners LLC grew its stake in shares of Westamerica Bancorporation by 4.1% during the 3rd quarter. Clifford Capital Partners LLC now owns 313,838 shares of the financial services provider’s stock valued at $13,573,000 after buying an additional 12,316 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Westamerica Bancorporation by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,322 shares of the financial services provider’s stock worth $16,941,000 after buying an additional 18,297 shares during the period. Finally, Jupiter Asset Management Ltd. boosted its holdings in Westamerica Bancorporation by 8.3% in the third quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after acquiring an additional 14,206 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Wall Street Analyst Weigh In

WABC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. Piper Sandler dropped their price target on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th.

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.