Westamerica Bancorporation (WABC) To Go Ex-Dividend on November 2nd

Westamerica Bancorporation (NASDAQ:WABC) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 2nd will be paid a dividend of $0.48 per share by the financial services provider on Friday, November 13th. This represents a $1.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, November 2nd.

Westamerica Bancorporation has a dividend payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings.

Westamerica Bancorporation Price Performance

WABC opened at $61.38 on Friday. The business’s 50-day moving average is $59.28 and its two-hundred day moving average is $57.82. Westamerica Bancorporation has a 1 year low of $46.23 and a 1 year high of $63.61. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $1.42 billion, a PE ratio of 13.23 and a beta of 0.56.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The business had revenue of $64.05 million for the quarter, compared to analysts’ expectations of $63.10 million. Westamerica Bancorporation had a net margin of 41.63% and a return on equity of 12.80%. During the same period last year, the business earned $1.12 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings raised Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Westamerica Bancorporation from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Westamerica Bancorporation has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company headquartered in San Rafael, California. Through its principal subsidiary, Westamerica Bank, the company provides community banking services to individuals, businesses and public-sector customers.

Westamerica Bank offers deposit accounts, commercial and consumer lending, residential and commercial real estate loans, construction financing, cash-management services and electronic banking solutions. Its lending and deposit activities are primarily focused on small and midsized businesses, professionals, nonprofit organizations and retail customers.

The company serves communities throughout Northern and Central California through a network of banking offices and digital channels.