Westamerica Bancorporation (NASDAQ:WABC) Plans Quarterly Dividend of $0.46

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Monday, August 4th will be paid a dividend of 0.46 per share by the financial services provider on Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.76%.

Westamerica Bancorporation has a dividend payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Westamerica Bancorporation to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.6%.

Westamerica Bancorporation Stock Down 2.1%

Westamerica Bancorporation stock traded down $1.05 during midday trading on Thursday, reaching $48.97. The company's stock had a trading volume of 147,664 shares, compared to its average volume of 153,500. The stock's 50-day simple moving average is $49.04 and its 200-day simple moving average is $49.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.30. Westamerica Bancorporation has a 52-week low of $42.00 and a 52-week high of $59.97. The stock has a market capitalization of $1.28 billion, a P/E ratio of 10.24 and a beta of 0.64.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. Westamerica Bancorporation had a return on equity of 13.81% and a net margin of 43.69%. The business had revenue of $64.88 million during the quarter, compared to analysts' expectations of $65.80 million. On average, sell-side analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Insiders Place Their Bets

In other news, SVP John A. Thorson sold 2,243 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $48.57, for a total value of $108,942.51. Following the sale, the senior vice president directly owned 11,591 shares of the company's stock, valued at approximately $562,974.87. This trade represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westamerica Bancorporation

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Westamerica Bancorporation in the 1st quarter worth approximately $96,000. Jones Financial Companies Lllp bought a new position in Westamerica Bancorporation in the 1st quarter worth approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $773,000 after purchasing an additional 642 shares during the last quarter. Royal Bank of Canada raised its position 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 worth $938,000 after purchasing an additional 1,183 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 worth $3,243,000 after purchasing an additional 5,293 shares during the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler decreased their price target on Westamerica Bancorporation from $54.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Westamerica Bancorporation from $55.00 to $54.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, Wall Street Zen raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a report on Friday, June 27th.

About Westamerica Bancorporation

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.

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