George S. Ensinger Sells 635 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) SVP George S. Ensinger sold 635 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.61, for a total transaction of $30,232.35. Following the completion of the sale, the senior vice president now owns 4,073 shares of the company’s stock, valued at $193,915.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Westamerica Bancorporation Trading Up 2.4 %

Shares of Westamerica Bancorporation stock opened at $49.28 on Friday. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96. The company’s fifty day simple moving average is $47.19 and its 200-day simple moving average is $49.24. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 8.32 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.02). Westamerica Bancorporation had a return on equity of 21.99% and a net margin of 48.35%. The company had revenue of $78.84 million during the quarter, compared to analyst estimates of $77.34 million. As a group, research analysts forecast that Westamerica Bancorporation will post 5.3 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, May 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.73%.

Hedge Funds Weigh In On Westamerica Bancorporation

Several large investors have recently added to or reduced their stakes in WABC. Leeward Investments LLC MA acquired a new position in shares of Westamerica Bancorporation in the fourth quarter valued at $9,515,000. Jupiter Asset Management Ltd. raised its stake in shares of Westamerica Bancorporation by 8.3% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 186,356 shares of the financial services provider’s stock valued at $8,060,000 after buying an additional 14,206 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of Westamerica Bancorporation during the 3rd quarter worth about $2,990,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Westamerica Bancorporation by 44.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,088 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 1,562 shares in the last quarter. Finally, Strs Ohio bought a new stake in Westamerica Bancorporation in the fourth quarter valued at about $112,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WABC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a research note on Monday, April 22nd. Piper Sandler lowered their price target on Westamerica Bancorporation from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, StockNews.com lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th.

About Westamerica Bancorporation

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.