James J. Schneck Sells 47,200 Shares of Westamerica Bancorporation (WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) VP James J. Schneck sold 47,200 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $58.79, for a total transaction of $2,774,888.00. Following the sale, the vice president now owns 6,025 shares of the company’s stock, valued at approximately $354,209.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Westamerica Bancorporation (WABC) opened at $57.64 on Thursday. The firm has a market cap of $1,481.91, a P/E ratio of 30.34 and a beta of 1.01. Westamerica Bancorporation has a 1 year low of $49.38 and a 1 year high of $64.26.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.58 earnings per share for the quarter. The firm had revenue of $54.03 million during the quarter. Westamerica Bancorporation had a net margin of 26.26% and a return on equity of 10.30%.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Westamerica Bancorporation’s payout ratio is currently 84.21%.

A number of hedge funds have recently modified their holdings of WABC. Wells Fargo & Company MN boosted its position in Westamerica Bancorporation by 16.6% in the 2nd quarter. Wells Fargo & Company MN now owns 58,815 shares of the financial services provider’s stock valued at $3,296,000 after buying an additional 8,379 shares during the period. TIAA CREF Investment Management LLC boosted its position in Westamerica Bancorporation by 2.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 82,750 shares of the financial services provider’s stock valued at $4,637,000 after buying an additional 1,634 shares during the period. BlackRock Inc. boosted its position in Westamerica Bancorporation by 0.7% in the 2nd quarter. BlackRock Inc. now owns 3,213,258 shares of the financial services provider’s stock valued at $180,071,000 after buying an additional 20,775 shares during the period. Thrivent Financial For Lutherans boosted its position in Westamerica Bancorporation by 5.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 15,800 shares of the financial services provider’s stock valued at $885,000 after buying an additional 860 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Westamerica Bancorporation by 7.2% in the 2nd quarter. New York State Common Retirement Fund now owns 28,300 shares of the financial services provider’s stock valued at $1,586,000 after buying an additional 1,899 shares during the period. 85.10% of the stock is owned by institutional investors.

WABC has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. BMO Capital Markets restated a “sell” rating and set a $50.00 price target on shares of Westamerica Bancorporation in a report on Wednesday, January 24th. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price target on shares of Westamerica Bancorporation in a report on Friday, December 22nd. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. Finally, Sandler O’Neill reaffirmed a “sell” rating and set a $54.00 price objective on shares of Westamerica Bancorporation in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.00.

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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.

Insider Buying and Selling by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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