Westamerica Bancorporation (WABC) Set to Announce Quarterly Earnings on Thursday

Westamerica Bancorporation (NASDAQ:WABC) is set to announce its earnings results 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.02). The business had revenue of $80.37 million during the quarter, compared to the consensus estimate of $81.03 million. Westamerica Bancorporation had a net margin of 49.39% and a return on equity of 23.61%. 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 during trading on Wednesday, reaching $45.50. The company’s stock had a trading volume of 111,793 shares, compared to its average volume of 157,045. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 7.55 and a beta of 0.56. The firm has a 50 day moving average of $46.80 and a 200-day moving average of $49.00. Westamerica Bancorporation has a 12 month low of $35.52 and a 12 month high of $57.96.

Westamerica Bancorporation Dividend Announcement

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

Wall Street Analyst Weigh In

WABC has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Keefe, Bruyette & Woods dropped their price target on Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 19th. Finally, StockNews.com cut Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday.

Insider Activity

In related news, CEO David L. Payne sold 8,728 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total transaction of $444,691.60. Following the sale, the chief executive officer now owns 333,689 shares of the company’s stock, valued at approximately $17,001,454.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David L. Payne sold 8,728 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.95, for a total transaction of $444,691.60. Following the sale, the chief executive officer now owns 333,689 shares of the company’s stock, valued at approximately $17,001,454.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Payne sold 11,272 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $46.79, for a total value of $527,416.88. Following the sale, the chief executive officer now directly owns 242,417 shares in the company, valued at approximately $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. Insiders own 5.50% of the company’s stock.

Institutional Trading of Westamerica Bancorporation

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in Westamerica Bancorporation by 11.9% in the 1st quarter. Citigroup Inc. now owns 23,582 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 2,511 shares during the last quarter. Bank of Montreal Can increased its stake in Westamerica Bancorporation by 64.9% in the 1st quarter. Bank of Montreal Can now owns 12,678 shares of the financial services provider’s stock worth $792,000 after acquiring an additional 4,988 shares during the last quarter. Acadian Asset Management LLC increased its stake in Westamerica Bancorporation by 5.4% in the 1st quarter. Acadian Asset Management LLC now owns 11,478 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 590 shares during the last quarter. MetLife Investment Management LLC increased its stake in Westamerica Bancorporation by 36.4% in the 1st quarter. MetLife Investment Management LLC now owns 13,223 shares of the financial services provider’s stock worth $800,000 after acquiring an additional 3,532 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Westamerica Bancorporation by 0.9% in the 1st quarter. Rhumbline Advisers now owns 80,348 shares of the financial services provider’s stock worth $4,861,000 after acquiring an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

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.