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

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Monday, February 2nd will be paid a dividend of 0.46 per share by the financial services provider on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, February 2nd.

Westamerica Bancorporation has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 34 consecutive years. Westamerica Bancorporation has a dividend payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.2%

Shares of WABC opened at $51.25 on Friday. The business’s 50-day moving average price is $48.68 and its 200 day moving average price is $48.75. The company has a current ratio of 0.26, a quick ratio of 0.29 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.28 billion, a P/E ratio of 11.34 and a beta of 0.62. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year high of $52.85.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $66.05 million for the quarter, compared to the consensus estimate of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. Analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. grew its position in Westamerica Bancorporation by 25.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 10,602 shares of the financial services provider’s stock worth $507,000 after buying an additional 2,148 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Westamerica Bancorporation by 87.4% during the 4th quarter. SG Americas Securities LLC now owns 32,499 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 15,157 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Westamerica Bancorporation by 16.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,653 shares of the financial services provider’s stock valued at $662,000 after purchasing an additional 1,945 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Westamerica Bancorporation by 43.9% in the third quarter. JPMorgan Chase & Co. now owns 98,266 shares of the financial services provider’s stock valued at $4,912,000 after buying an additional 29,964 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in Westamerica Bancorporation by 4.1% during the third quarter. Tudor Investment Corp ET AL now owns 47,476 shares of the financial services provider’s stock worth $2,373,000 after buying an additional 1,862 shares during the last quarter. Institutional investors own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.