Westamerica Bancorporation (NASDAQ:WABC) SVP Dennis R. Hansen sold 18,400 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $59.34, for a total transaction of $1,091,856.00. Following the completion of the transaction, the senior vice president now owns 19,421 shares of the company’s stock, valued at $1,152,442.14. The sale was disclosed in a filing with the SEC, which is available at this link.
Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. Westamerica Bancorporation had a return on equity of 10.28% and a net margin of 33.38%. The business had revenue of $45.22 million during the quarter.
Westamerica Bancorporation announced that its board has authorized a stock repurchase program 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. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, November 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is 67.83%.
Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Westamerica Bancorporation by 13.0% during the third quarter. American Century Companies Inc. now owns 2,243,866 shares of the financial services provider’s stock worth $133,600,000 after purchasing an additional 258,580 shares during the last quarter. Palisade Capital Management LLC NJ lifted its position in shares of Westamerica Bancorporation by 1.9% during the third quarter. Palisade Capital Management LLC NJ now owns 280,629 shares of the financial services provider’s stock worth $16,709,000 after purchasing an additional 5,188 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Westamerica Bancorporation during the third quarter worth $305,000. Wealthsource Partners LLC bought a new stake in shares of Westamerica Bancorporation during the second quarter worth $208,000. Finally, Keel Point LLC lifted its position in shares of Westamerica Bancorporation by 0.4% during 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 during the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.
Separately, BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th.
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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