Robert James Baker Jr Sells 759 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Key Points

• SVP Robert James Baker Jr. sold 759 shares of Westamerica Bancorporation on April 20 at an average price of $53.83, totaling $40,856.97, according to an SEC filing.
• Westamerica beat quarterly expectations, reporting EPS of $1.13 versus $1.08 consensus and revenue of $62.3M versus $60.7M, with a 12.26% ROE and a 42.08% net margin.
• Shares fell 2.1% to $52.91 on heavy volume (491,414 vs. average 187,133); the stock has a $1.28B market cap, a P/E of 11.78, and a dividend yield of 3.5% ($0.46 quarterly, 40.98% payout ratio).

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) SVP Robert James Baker, Jr. sold 759 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $53.83, for a total value of $40,856.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Westamerica Bancorporation Trading Down 2.1%

Shares of NASDAQ:WABC traded down $1.16 during trading on Monday, hitting $52.91. 491,414 shares of the company were exchanged, compared to its average volume of 187,133. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 11.78 and a beta of 0.57. Westamerica Bancorporation has a fifty-two week low of $44.93 and a fifty-two week high of $56.22. The firm has a fifty day moving average price of $51.76 and a two-hundred day moving average price of $49.66.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.70 million. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.

Westamerica Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WABC. Royal Bank of Canada grew its stake in Westamerica Bancorporation by 6.8% in the 1st quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider's stock valued at $938,000 after buying an additional 1,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Westamerica Bancorporation by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider's stock valued at $773,000 after buying an additional 642 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Westamerica Bancorporation in the 1st quarter valued at about $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Westamerica Bancorporation by 9.0% in 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 valued at $3,243,000 after buying an additional 5,293 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Westamerica Bancorporation by 815.8% in the 1st quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider's stock valued at $3,416,000 after buying an additional 60,102 shares during the last quarter. Institutional investors and hedge funds own 81.89% of the company's stock.

Wall Street Analyst Weigh In

WABC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a "market perform" rating in a research report on Friday. Wall Street Zen downgraded Westamerica Bancorporation from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Finally, Weiss Ratings raised shares of Westamerica Bancorporation from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Westamerica Bancorporation presently has an average rating of "Hold" and an average target price of $54.00.

Westamerica Bancorporation Company Profile

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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