Westamerica Bancorporation (NASDAQ:WABC) Plans Quarterly Dividend of $0.44

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 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, May 3rd.

Westamerica Bancorporation has increased its dividend payment by an average of 1.6% annually over the last three years and has increased its dividend annually for the last 1 consecutive 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 %

Shares of NASDAQ:WABC opened at $47.44 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of 8.01 and a beta of 0.56. The company has a 50-day moving average price of $47.02 and a two-hundred day moving average price of $49.11. Westamerica Bancorporation has a twelve month low of $35.52 and a twelve month high of $57.96.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly 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 the consensus estimate of $77.34 million. Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. Analysts anticipate that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on WABC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $57.00 target price (down previously from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd. Piper Sandler lowered their target price on shares of Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th.

Insider Transactions at Westamerica Bancorporation

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