Westamerica Bancorporation (WABC) Scheduled to Post Quarterly Earnings on Thursday

Westamerica Bancorporation (NASDAQ:WABC) is scheduled to be issuing its quarterly earnings data on Thursday, April 18th.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, January 18th. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $80.37 million for the quarter, compared to analyst estimates of $81.03 million. Westamerica Bancorporation had a return on equity of 23.61% and a net margin of 49.39%. On average, analysts expect Westamerica Bancorporation to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Westamerica Bancorporation Price Performance

WABC stock traded down $0.15 during midday trading on Wednesday, reaching $45.47. 80,852 shares of the company’s stock traded hands, compared to its average volume of 156,364. Westamerica Bancorporation has a fifty-two week low of $35.52 and a fifty-two week high of $57.96. The business has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $49.00. The company has a market capitalization of $1.21 billion, a P/E ratio of 7.55 and a beta of 0.56.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Monday, February 5th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is presently 29.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 19th. StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Piper Sandler lowered their price objective on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, January 19th.

Insider Activity at Westamerica Bancorporation

In other Westamerica Bancorporation news, CEO David L. Payne sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $49.75, for a total transaction of $746,250.00. Following the completion of the transaction, the chief executive officer now directly owns 288,689 shares of the company’s stock, valued at approximately $14,362,277.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO David L. Payne sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $49.75, for a total value of $746,250.00. Following the completion of the sale, the chief executive officer now directly owns 288,689 shares in the company, valued at approximately $14,362,277.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Payne sold 8,728 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total value of $444,691.60. Following the transaction, the chief executive officer now owns 333,689 shares in the company, valued at $17,001,454.55. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $2,213,458 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Westamerica Bancorporation

Several institutional investors have recently made changes to their positions in WABC. Point72 Middle East FZE bought a new stake in shares of Westamerica Bancorporation during the second quarter valued at approximately $34,000. PNC Financial Services Group Inc. lifted its position in Westamerica Bancorporation by 91.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,293 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 616 shares during the period. Money Concepts Capital Corp bought a new position in Westamerica Bancorporation during the 4th quarter valued at $70,000. Captrust Financial Advisors increased its position in shares of Westamerica Bancorporation by 123.9% during the 1st quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 856 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Westamerica Bancorporation during the second quarter valued at approximately $115,000. 81.89% of the stock is owned by institutional investors.

About Westamerica Bancorporation

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.