Robert James Baker, Jr. Sells 759 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) SVP Robert James Baker, Jr. sold 759 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $53.83, for a total transaction of $40,856.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock opened at $53.46 on Wednesday. Westamerica Bancorporation has a 1 year low of $44.93 and a 1 year high of $56.22. The firm’s 50-day moving average is $51.80 and its two-hundred day moving average is $49.73. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 11.91 and a beta of 0.57.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The company had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.70 million.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is presently 40.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WABC shares. Weiss Ratings upgraded shares of Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Wall Street Zen cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the company a “market perform” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Westamerica Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Institutional Trading of Westamerica Bancorporation

A number of institutional investors have recently modified their holdings of WABC. UBS Group AG raised its position in shares of Westamerica Bancorporation by 279.4% in the 4th quarter. UBS Group AG now owns 457,206 shares of the financial services provider’s stock valued at $21,868,000 after purchasing an additional 336,714 shares during the last quarter. Millennium Management LLC raised its position in shares of Westamerica Bancorporation by 101.3% in the 3rd quarter. Millennium Management LLC now owns 399,197 shares of the financial services provider’s stock valued at $19,956,000 after purchasing an additional 200,884 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Westamerica Bancorporation in the 3rd quarter valued at approximately $5,831,000. AQR Capital Management LLC raised its position in shares of Westamerica Bancorporation by 35.9% in the 4th quarter. AQR Capital Management LLC now owns 381,832 shares of the financial services provider’s stock valued at $18,263,000 after purchasing an additional 100,867 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Westamerica Bancorporation by 46.7% in the 4th quarter. MetLife Investment Management LLC now owns 228,658 shares of the financial services provider’s stock valued at $10,937,000 after purchasing an additional 72,760 shares during the last quarter. 81.89% of the stock is currently owned by institutional investors.

About Westamerica Bancorporation

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.