Westamerica Bancorporation (WABC) Set to Announce Earnings on Thursday

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

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). The firm had revenue of $80.37 million during 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 Stock Performance

NASDAQ:WABC traded down $0.12 on Wednesday, hitting $45.50. The stock had a trading volume of 111,793 shares, compared to its average volume of 156,687. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96. The firm’s fifty day simple moving average is $46.80 and its two-hundred day simple moving average is $49.00. The stock has a market cap of $1.21 billion, a P/E ratio of 7.55 and a beta of 0.56.

Westamerica Bancorporation Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WABC shares. StockNews.com cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 19th. Finally, Piper Sandler reduced their target price on shares of Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, January 19th.

Insider Activity

In related news, CEO David L. Payne sold 8,728 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total value of $444,691.60. Following the transaction, the chief executive officer now owns 333,689 shares of the company’s stock, valued at approximately $17,001,454.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO David L. Payne sold 8,728 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total transaction of $444,691.60. Following the transaction, the chief executive officer now directly owns 333,689 shares in the company, valued at $17,001,454.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David L. Payne sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total transaction of $495,100.00. Following the transaction, the chief executive officer now owns 268,689 shares in the company, valued at $13,302,792.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,000 shares of company stock valued at $2,213,458. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Middle East FZE acquired a new position in shares of Westamerica Bancorporation during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. grew its holdings in Westamerica Bancorporation by 91.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,293 shares of the financial services provider’s stock valued at $50,000 after buying an additional 616 shares during the period. Money Concepts Capital Corp purchased a new stake in Westamerica Bancorporation in the 4th quarter valued at about $70,000. Captrust Financial Advisors grew its holdings in shares of Westamerica Bancorporation by 123.9% during the 1st quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 856 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Westamerica Bancorporation during the 2nd quarter worth about $115,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

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.