Westamerica Bancorporation (WABC) Raises Dividend to $0.40 Per Share

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.40 per share by the financial services provider on Friday, November 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39.

Westamerica Bancorporation has increased its dividend payment by an average of 1.5% annually over the last three years and has raised its dividend every year for the last 4 years.

Westamerica Bancorporation (NASDAQ WABC) opened at 59.15 on Friday. The stock has a market cap of $1.56 billion, a PE ratio of 25.39 and a beta of 1.10. Westamerica Bancorporation has a one year low of $48.13 and a one year high of $65.34. The stock has a 50 day moving average price of $56.67 and a 200-day moving average price of $54.71.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The firm had revenue of $45.22 million during the quarter. Equities research analysts expect that Westamerica Bancorporation will post $2.32 earnings per share for the current fiscal year.

Westamerica Bancorporation announced that its board has approved a stock repurchase plan on Thursday, July 27th that authorizes the company to repurchase 1,750,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Separately, BidaskClub cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.

TRADEMARK VIOLATION WARNING: “Westamerica Bancorporation (WABC) Raises Dividend to $0.40 Per Share” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/10/27/westamerica-bancorporation-wabc-raises-dividend-to-0-40-per-share.html.

In related news, Director Edward B. Sylvester sold 1,260 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $54.40, for a total value of $68,544.00. Following the completion of the sale, the director now owns 72,490 shares of the company’s stock, valued at $3,943,456. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.

About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.

Dividend History for Westamerica Bancorporation (NASDAQ:WABC)

Receive News & Ratings for Westamerica Bancorporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westamerica Bancorporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply