Westamerica Bancorporation (WABC) Set to Announce Quarterly Earnings on Thursday

Westamerica Bancorporation (NASDAQ:WABC) will issue its quarterly earnings data on Thursday, April 18th.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, January 18th. The financial services provider reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.02). The company had revenue of $80.37 million for the quarter, compared to analysts’ expectations of $81.03 million. Westamerica Bancorporation had a net margin of 49.39% and a return on equity of 23.61%. On average, analysts expect Westamerica Bancorporation to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Westamerica Bancorporation Trading Down 0.3 %

NASDAQ WABC traded down $0.12 on Wednesday, hitting $45.50. 111,793 shares of the company traded hands, compared to its average volume of 157,045. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.55 and a beta of 0.56. The business’s 50 day moving average price is $46.80 and its 200-day moving average price is $49.00. Westamerica Bancorporation has a 52-week low of $35.52 and a 52-week high of $57.96.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a dividend of $0.44 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.76 annualized dividend and a yield of 3.87%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.04%.

Insider Buying and Selling

In other Westamerica Bancorporation news, CEO David L. Payne sold 11,272 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the sale, the chief executive officer now directly owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David L. Payne sold 11,272 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the transaction, the chief executive officer now owns 242,417 shares of the company’s stock, valued at $11,342,691.43. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David L. Payne sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the completion of the transaction, the chief executive officer now directly owns 268,689 shares in the company, valued at approximately $13,302,792.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,000 shares of company stock worth $2,213,458. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WABC. Price T Rowe Associates Inc. MD lifted its holdings in Westamerica Bancorporation by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,765 shares of the financial services provider’s stock worth $3,033,000 after buying an additional 480 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in shares of Westamerica Bancorporation during the 4th quarter valued at $654,000. Barclays PLC lifted its holdings in shares of Westamerica Bancorporation by 39.6% during the 4th quarter. Barclays PLC now owns 55,863 shares of the financial services provider’s stock valued at $3,151,000 after purchasing an additional 15,858 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Westamerica Bancorporation by 67.9% during the 4th quarter. Public Sector Pension Investment Board now owns 55,302 shares of the financial services provider’s stock valued at $3,120,000 after purchasing an additional 22,364 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Westamerica Bancorporation by 27.7% during the 4th quarter. Royal Bank of Canada now owns 20,888 shares of the financial services provider’s stock valued at $1,178,000 after purchasing an additional 4,533 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on WABC. Keefe, Bruyette & Woods lowered their price objective on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 19th. Piper Sandler lowered their price objective on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Finally, StockNews.com downgraded Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday.

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.