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

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

Westamerica Bancorporation Trading Up 1.8 %

Shares of NASDAQ:WABC traded up $0.87 during trading hours on Friday, hitting $49.61. 162,926 shares of the company's stock traded hands, compared to its average volume of 129,880. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. The business has a fifty day moving average price of $48.76 and a 200-day moving average price of $51.60. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The firm has a market capitalization of $1.33 billion, a P/E ratio of 9.54 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $66.71 million for the quarter, compared to the consensus estimate of $66.47 million. Equities analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Westamerica Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, May 5th. This is a boost from Westamerica Bancorporation's previous quarterly dividend of $0.44. Westamerica Bancorporation's dividend payout ratio is currently 36.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WABC shares. Keefe, Bruyette & Woods decreased their target price on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Piper Sandler lowered their price objective on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 21st.

Hedge Funds Weigh In On Westamerica Bancorporation

A number of hedge funds have recently modified their holdings of WABC. Principal Financial Group Inc. raised its holdings in shares of Westamerica Bancorporation by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider's stock valued at $7,600,000 after purchasing an additional 5,368 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Westamerica Bancorporation in the 4th quarter valued at approximately $245,000. Barclays PLC grew its position in shares of Westamerica Bancorporation by 103.8% in the third 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. boosted 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 valued at $4,026,000 after acquiring an additional 32,981 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Westamerica Bancorporation by 5.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,366 shares of the financial services provider's stock worth $1,960,000 after acquiring an additional 1,940 shares during the period. 81.89% of the stock is currently owned by hedge funds and other institutional investors.

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.