Westamerica Bancorporation (NASDAQ:WABC) VP James J. Schneck sold 6,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.86, for a total transaction of $353,160.00. Following the completion of the sale, the vice president now directly owns 6,025 shares of the company’s stock, valued at $354,631.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Westamerica Bancorporation (NASDAQ:WABC) opened at $54.07 on Friday. Westamerica Bancorporation has a 12 month low of $49.38 and a 12 month high of $65.34. The company has a market cap of $1,421.61, a PE ratio of 23.46 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $45.22 million during the quarter. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%.
Westamerica Bancorporation announced that its board has approved a share repurchase plan on Thursday, July 27th that allows the company to repurchase 1,750,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 3rd. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Westamerica Bancorporation’s dividend payout ratio (DPR) is currently 69.57%.
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Separately, BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.
A number of institutional investors have recently added to or reduced their stakes in WABC. Bank of America Corp DE increased its position in Westamerica Bancorporation by 3.9% during the 1st quarter. Bank of America Corp DE now owns 263,239 shares of the financial services provider’s stock worth $14,696,000 after purchasing an additional 9,883 shares in the last quarter. Comerica Bank lifted its stake in shares of Westamerica Bancorporation by 65.4% in the 2nd quarter. Comerica Bank now owns 68,768 shares of the financial services provider’s stock valued at $3,788,000 after purchasing an additional 27,196 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Westamerica Bancorporation by 48,285.6% in the 1st quarter. BlackRock Inc. now owns 3,192,483 shares of the financial services provider’s stock valued at $178,235,000 after purchasing an additional 3,185,885 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Westamerica Bancorporation by 2.5% in the 1st quarter. Prudential Financial Inc. now owns 45,456 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Westamerica Bancorporation by 32.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,710 shares of the financial services provider’s stock worth $27,667,000 after acquiring an additional 121,484 shares in the last quarter. 83.15% of the stock is owned by institutional investors.
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.
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