Westamerica Bancorporation to Issue Quarterly Dividend of $0.46 (NASDAQ:WABC)

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Monday, November 3rd will be paid a dividend of 0.46 per share by the financial services provider on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, November 3rd.

Westamerica Bancorporation has a payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Westamerica Bancorporation to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.6%.

Westamerica Bancorporation Stock Down 0.5%

Shares of NASDAQ:WABC opened at $47.23 on Friday. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $59.97. The firm’s 50 day moving average price is $48.66 and its 200 day moving average price is $48.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 10.29 and a beta of 0.61.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%. The company had revenue of $64.00 million during the quarter, compared to analysts’ expectations of $64.20 million. As a group, equities research analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Westamerica Bancorporation by 9.3% in the second quarter. American Century Companies Inc. now owns 2,019,329 shares of the financial services provider’s stock valued at $97,816,000 after purchasing an additional 171,991 shares during the period. Nuveen LLC acquired a new stake in shares of Westamerica Bancorporation during the 1st quarter valued at approximately $17,023,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Westamerica Bancorporation by 87.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 309,953 shares of the financial services provider’s stock worth $15,014,000 after acquiring an additional 144,405 shares in the last quarter. RBO & Co. LLC grew its holdings in shares of Westamerica Bancorporation by 0.8% in the 2nd quarter. RBO & Co. LLC now owns 297,088 shares of the financial services provider’s stock worth $14,391,000 after acquiring an additional 2,363 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in Westamerica Bancorporation by 63.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 176,908 shares of the financial services provider’s stock valued at $8,569,000 after purchasing an additional 68,638 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

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.