Westamerica Bancorporation (NASDAQ:WABC) CFO Sells $51,964.00 in Stock

Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 1,100 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $47.24, for a total transaction of $51,964.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Westamerica Bancorporation Price Performance

WABC traded up $0.10 during midday trading on Wednesday, reaching $47.86. 139,606 shares of the company’s stock were exchanged, compared to its average volume of 157,079. Westamerica Bancorporation has a 1-year low of $35.52 and a 1-year high of $57.96. The business’s 50-day moving average price is $46.97 and its 200 day moving average price is $49.11. The stock has a market capitalization of $1.28 billion, a PE ratio of 8.01 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a net margin of 48.35% and a return on equity of 21.99%. The company had revenue of $78.84 million for the quarter, compared to the consensus estimate of $77.34 million. As a group, analysts expect that Westamerica Bancorporation will post 5.3 EPS for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Westamerica Bancorporation by 20.8% during the third quarter. American Century Companies Inc. now owns 1,198,333 shares of the financial services provider’s stock valued at $51,828,000 after buying an additional 206,376 shares during the period. Norges Bank bought a new stake in shares of Westamerica Bancorporation in the fourth quarter valued at $9,733,000. Leeward Investments LLC MA purchased a new stake in Westamerica Bancorporation during the 4th quarter valued at about $9,515,000. Kennedy Capital Management LLC purchased a new position in shares of Westamerica Bancorporation in the third quarter worth $2,990,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Westamerica Bancorporation by 42.1% during the first quarter. Assenagon Asset Management S.A. now owns 128,124 shares of the financial services provider’s stock valued at $6,263,000 after buying an additional 37,972 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WABC. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $57.00 target price (down from $58.00) on shares of Westamerica Bancorporation in a report on Monday. Finally, Piper Sandler lowered their price objective on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th.

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.