Westamerica Bancorporation (WABC) Given Coverage Optimism Score of 0.17
News coverage about Westamerica Bancorporation (NASDAQ:WABC) has trended somewhat positive on Sunday, Accern Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Westamerica Bancorporation earned a news impact score of 0.17 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.8906770860351 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
WABC has been the subject of several recent analyst reports. Maxim Group reaffirmed a “hold” rating on shares of Westamerica Bancorporation in a research report on Friday, April 21st. BidaskClub raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods raised Westamerica Bancorporation from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $54.00 to $56.00 in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Westamerica Bancorporation presently has an average rating of “Hold” and an average price target of $56.00.
Westamerica Bancorporation (NASDAQ WABC) opened at 51.40 on Friday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 22.06 and a beta of 1.06. Westamerica Bancorporation has a 52-week low of $46.92 and a 52-week high of $65.34. The stock has a 50 day moving average price of $54.79 and a 200 day moving average price of $55.26.
Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Westamerica Bancorporation had a return on equity of 10.57% and a net margin of 33.83%. The company had revenue of $47.90 million during the quarter, compared to analysts’ expectations of $46.70 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Analysts expect that Westamerica Bancorporation will post $2.32 EPS for the current fiscal year.
Westamerica Bancorporation announced that its board has approved a share repurchase plan on Thursday, July 27th that allows the company to repurchase 1,750,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, August 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 66.67%.
In other Westamerica Bancorporation news, Director Edward B. Sylvester sold 1,260 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $54.40, for a total value of $68,544.00. Following the completion of the sale, the director now directly owns 72,490 shares in the company, valued at $3,943,456. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.
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About Westamerica Bancorporation
Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.
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