Westamerica Bancorporation (NASDAQ:WABC) SVP John A. Thorson Sells 2,243 Shares

Westamerica Bancorporation (NASDAQ:WABC) SVP John A. Thorson sold 2,243 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the transaction, the senior vice president now owns 11,591 shares of the company’s stock, valued at approximately $562,974.87. This represents a 16.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Westamerica Bancorporation Stock Performance

Shares of WABC stock opened at $48.90 on Wednesday. The firm has a 50 day moving average of $48.79 and a two-hundred day moving average of $51.63. The stock has a market capitalization of $1.31 billion, a PE ratio of 9.40 and a beta of 0.63. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.07. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. The firm had revenue of $66.71 million during the quarter, compared to analyst estimates of $66.47 million. On average, research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, May 5th. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.44. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.76%. Westamerica Bancorporation’s payout ratio is currently 36.87%.

Institutional Trading of Westamerica Bancorporation

Several hedge funds have recently added to or reduced their stakes in WABC. Barclays PLC increased its position in shares of Westamerica Bancorporation by 103.8% in the 3rd quarter. Barclays PLC now owns 52,755 shares of the financial services provider’s stock valued at $2,606,000 after purchasing an additional 26,871 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Westamerica Bancorporation by 68.0% during the third quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider’s stock worth $4,026,000 after purchasing an additional 32,981 shares in the last quarter. GAMMA Investing LLC increased its holdings in Westamerica Bancorporation by 14.1% in the fourth quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider’s stock valued at $114,000 after buying an additional 268 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Westamerica Bancorporation in the fourth quarter valued at $245,000. Finally, KBC Group NV boosted its position in shares of Westamerica Bancorporation by 71.4% during the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 822 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating for the company in a report on Monday, April 21st.

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.