Key Points
- SVP sale: Westamerica SVP Robert James Baker, Jr. sold 759 shares on April 20 at an average price of $53.83, a transaction totaling $40,856.97 disclosed in an SEC Form 4.
- Earnings & dividend: The company reported Q results with EPS of $1.13 (beat by $0.05) and revenue of $62.3M, and pays a quarterly dividend of $0.46 (annualized $1.84) for a ~3.5% yield and a 40.98% payout ratio.
- Investor/analyst stance: Institutional investors own 81.89% of the stock with notable stake increases from firms like RBC, UBS and Jane Street, and analysts show mixed ratings but a consensus price target of $58 (Keefe raised its target to $58).
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) SVP Robert James Baker, Jr. sold 759 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Westamerica Bancorporation Trading Down 2.1%
WABC stock opened at $52.91 on Tuesday. The firm has a 50-day moving average of $51.77 and a two-hundred day moving average of $49.69. Westamerica Bancorporation has a one year low of $44.93 and a one year high of $56.22. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.78 and a beta of 0.57.
Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Westamerica Bancorporation had a net margin of 42.08% and a return on equity of 12.26%. The company had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.70 million.
Westamerica Bancorporation Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation's payout ratio is 40.98%.
Institutional Investors Weigh In On Westamerica Bancorporation
A number of institutional investors have recently modified their holdings of WABC. Royal Bank of Canada raised its stake in shares of Westamerica Bancorporation by 6.8% during the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider's stock worth $938,000 after purchasing an additional 1,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Westamerica Bancorporation by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider's stock worth $773,000 after purchasing an additional 642 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Westamerica Bancorporation during the 1st quarter worth about $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Westamerica Bancorporation by 9.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider's stock worth $3,243,000 after purchasing an additional 5,293 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Westamerica Bancorporation by 815.8% during the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider's stock worth $3,416,000 after purchasing an additional 60,102 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on WABC shares. Keefe, Bruyette & Woods lifted their target price on Westamerica Bancorporation from $55.00 to $58.00 and gave the company a "market perform" rating in a research note on Friday. Weiss Ratings raised Westamerica Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 23rd. Finally, Wall Street Zen cut Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.00.
View Our Latest Stock Report on WABC
Westamerica Bancorporation Company Profile
(
Get Free Report)
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.
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