Westamerica Bancorporation (WABC) Set to Announce Earnings on Thursday

Westamerica Bancorporation (NASDAQ:WABC) is scheduled to announce its earnings results on Thursday, April 18th.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The firm had revenue of $80.37 million for the quarter, compared to the consensus estimate of $81.03 million. Westamerica Bancorporation had a net margin of 49.39% and a return on equity of 23.61%. 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

Shares of Westamerica Bancorporation stock traded down $0.15 on Wednesday, reaching $45.47. The company had a trading volume of 80,852 shares, compared to its average volume of 156,364. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 7.55 and a beta of 0.56. The firm’s 50-day moving average price is $46.80 and its two-hundred day moving average price is $49.00.

Westamerica Bancorporation Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO David L. Payne sold 8,728 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total transaction of $444,691.60. Following the transaction, the chief executive officer now directly owns 333,689 shares in the company, valued at $17,001,454.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO David L. Payne sold 11,272 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the sale, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at approximately $11,342,691.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David L. Payne sold 8,728 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total transaction of $444,691.60. Following the completion of the sale, the chief executive officer now directly owns 333,689 shares of the company’s stock, valued at approximately $17,001,454.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,000 shares of company stock valued at $2,213,458. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its position in Westamerica Bancorporation by 161.7% in the 4th quarter. Morgan Stanley now owns 695,619 shares of the financial services provider’s stock worth $41,049,000 after buying an additional 429,802 shares in the last quarter. Norges Bank purchased a new position in Westamerica Bancorporation in the fourth quarter valued at about $12,477,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Westamerica Bancorporation by 675.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 233,361 shares of the financial services provider’s stock worth $13,771,000 after purchasing an additional 203,249 shares during the last quarter. BlackRock Inc. raised its stake in shares of Westamerica Bancorporation by 4.7% during the 1st quarter. BlackRock Inc. now owns 3,982,861 shares of the financial services provider’s stock worth $176,441,000 after purchasing an additional 179,782 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Westamerica Bancorporation by 16.0% in the 1st quarter. State Street Corp now owns 1,240,653 shares of the financial services provider’s stock valued at $54,961,000 after buying an additional 171,433 shares in the last quarter. 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.