Westamerica Bancorporation (WABC) Set to Announce Earnings on Thursday

Westamerica Bancorporation (NASDAQ:WABC) is scheduled to issue its quarterly earnings data on Thursday, April 18th.

Westamerica Bancorporation (NASDAQ:WABC) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). Westamerica Bancorporation had a return on equity of 23.61% and a net margin of 49.39%. The company had revenue of $80.37 million for the quarter, compared to analyst estimates of $81.03 million. On average, analysts expect Westamerica Bancorporation to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Westamerica Bancorporation Stock Performance

NASDAQ:WABC traded down $0.12 on Wednesday, reaching $45.50. The company’s stock had a trading volume of 111,793 shares, compared to its average volume of 156,687. The firm has a market cap of $1.21 billion, a PE ratio of 7.55 and a beta of 0.56. The business’s 50-day moving average price is $46.80 and its two-hundred day moving average price is $49.00. Westamerica Bancorporation has a 1-year low of $35.52 and a 1-year high of $57.96.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Monday, February 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.76 annualized dividend and a yield of 3.87%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 29.04%.

Insider Buying and Selling at Westamerica Bancorporation

In related news, CEO David L. Payne sold 8,728 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total value of $444,691.60. Following the sale, the chief executive officer now owns 333,689 shares in the company, valued at $17,001,454.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David L. Payne sold 8,728 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.95, for a total value of $444,691.60. Following the sale, the chief executive officer now directly owns 333,689 shares in the company, valued at approximately $17,001,454.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David L. Payne sold 11,272 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $46.79, for a total transaction of $527,416.88. Following the completion of the sale, the chief executive officer now owns 242,417 shares in the company, valued at $11,342,691.43. The disclosure for this sale can be found here. Insiders have sold 45,000 shares of company stock valued at $2,213,458 in the last 90 days. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westamerica Bancorporation

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Middle East FZE purchased a new stake in Westamerica Bancorporation in the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. lifted its position in shares of Westamerica Bancorporation by 91.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,293 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 616 shares during the period. Money Concepts Capital Corp purchased a new stake in shares of Westamerica Bancorporation in the 4th quarter worth approximately $70,000. Captrust Financial Advisors lifted its position in shares of Westamerica Bancorporation by 123.9% in the 1st quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 856 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $115,000. 81.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WABC. StockNews.com lowered Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Piper Sandler decreased their target price on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods decreased their target price on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 19th.

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.