Westamerica Bancorporation (NASDAQ:WABC) CFO John A. Thorson sold 5,824 shares of the stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $56.53, for a total value of $329,230.72. Following the transaction, the chief financial officer now owns 5,166 shares in the company, valued at approximately $292,033.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ WABC traded up $0.14 during trading hours on Monday, reaching $56.10. 81,500 shares of the stock were exchanged, compared to its average volume of 111,326. The firm has a market cap of $1.49 billion, a P/E ratio of 23.28 and a beta of 0.99. Westamerica Bancorporation has a 52 week low of $49.38 and a 52 week high of $64.26.
Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, April 19th. The financial services provider reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. Westamerica Bancorporation had a return on equity of 10.73% and a net margin of 27.34%. The company had revenue of $46.00 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Monday, May 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%.
Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Westamerica Bancorporation by 115.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 1,458 shares during the period. Hanson McClain Inc. increased its stake in Westamerica Bancorporation by 90.6% during the 1st quarter. Hanson McClain Inc. now owns 2,840 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 1,350 shares during the period. Xact Kapitalforvaltning AB bought a new position in Westamerica Bancorporation during the 4th quarter worth $294,000. Millennium Management LLC bought a new position in Westamerica Bancorporation during the 4th quarter worth $389,000. Finally, Financial Advocates Investment Management bought a new position in Westamerica Bancorporation during the 4th quarter worth $469,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.
A number of brokerages have recently weighed in on WABC. BidaskClub upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. BMO Capital Markets reiterated a “sell” rating and set a $50.00 target price on shares of Westamerica Bancorporation in a research note on Wednesday, January 24th. Maxim Group reiterated a “hold” rating on shares of Westamerica Bancorporation in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $60.00 target price on shares of Westamerica Bancorporation in a research note on Tuesday, February 27th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.67.
About Westamerica Bancorporation
Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.
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.