Westamerica Bancorporation (NASDAQ:WABC) Declares Quarterly Dividend of $0.48

Key Points

• Westamerica Bancorporation declared a quarterly dividend of $0.48 per share, payable November 13 to shareholders of record on November 2. The annualized dividend is $1.92 per share, representing a 3.1% yield.
• The dividend appears supported by earnings, with a 46.6% payout ratio. The company recently reported quarterly EPS of $1.22, beating analyst expectations of $1.17, while revenue of $64.05 million also exceeded estimates.
• Westamerica shares opened at $61.92, giving the company a market capitalization of approximately $1.43 billion. The stock’s 12-month trading range is $46.23 to $63.61.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 2nd will be given 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 dividend yield of 3.1%. The ex-dividend date is Monday, November 2nd.

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

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock opened at $61.92 on Friday. The firm has a market cap of $1.43 billion, a PE ratio of 13.34 and a beta of 0.56. The stock has a 50 day moving average of $59.25 and a 200 day moving average of $57.79. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.18. Westamerica Bancorporation has a 12 month low of $46.23 and a 12 month high of $63.61.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. Westamerica Bancorporation had a return on equity of 12.80% and a net margin of 41.63%. The business had revenue of $64.05 million for the quarter, compared to analysts' expectations of $63.10 million. During the same period in the prior year, the firm earned $1.12 EPS.

Westamerica Bancorporation Company Profile

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.

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