Westamerica Bancorporation (NASDAQ:WABC) Raises Dividend to $0.48 Per Share

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Monday, May 4th will be given a dividend of 0.48 per share by the financial services provider on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, May 4th. This is a 4.3% increase from Westamerica Bancorporation’s previous quarterly dividend of $0.46.

Westamerica Bancorporation has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 34 consecutive years. Westamerica Bancorporation has a payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC opened at $54.65 on Friday. Westamerica Bancorporation has a 1 year low of $44.93 and a 1 year high of $56.22. The business’s 50-day moving average is $51.90 and its 200-day moving average is $49.79. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.17 and a beta of 0.57.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $62.08 million during the quarter, compared to analysts’ expectations of $60.70 million. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.

About Westamerica Bancorporation

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.