Westamerica Bancorporation (NASDAQ:WABC) SVP Dennis R. Hansen sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $58.13, for a total transaction of $1,162,600.00. Following the completion of the transaction, the senior vice president now directly owns 19,721 shares of the company’s stock, valued at $1,146,381.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Westamerica Bancorporation (NASDAQ:WABC) opened at $56.78 on Friday. Westamerica Bancorporation has a 52-week low of $49.38 and a 52-week high of $65.34. The stock has a market cap of $1,500.00, a PE ratio of 24.03 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%. The business had revenue of $45.22 million for the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, November 3rd. Westamerica Bancorporation’s payout ratio is presently 69.57%.
Westamerica Bancorporation announced that its Board of Directors has approved a share buyback plan on Thursday, July 27th that allows the company to buyback 1,750,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Keel Point LLC increased its stake in shares of Westamerica Bancorporation by 0.4% in the second quarter. Keel Point LLC now owns 12,495 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 46 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Westamerica Bancorporation by 2.7% in the second quarter. Suntrust Banks Inc. now owns 5,916 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 158 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Westamerica Bancorporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 19,200 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 183 shares in the last quarter. Huntington National Bank increased its stake in shares of Westamerica Bancorporation by 18.7% in the second quarter. Huntington National Bank now owns 1,971 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 310 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Westamerica Bancorporation by 5.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 340 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub upgraded shares of Westamerica Bancorporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th.
Westamerica Bancorporation Company Profile
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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