Westamerica Bancorporation (WABC) SVP Dennis R. Hansen Sells 20,000 Shares of Stock
Westamerica Bancorporation (NASDAQ:WABC) SVP Dennis R. Hansen sold 20,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $58.13, for a total transaction of $1,162,600.00. Following the completion of the sale, the senior vice president now owns 19,721 shares of the company’s stock, valued at approximately $1,146,381.73. The transaction was disclosed in a filing with the SEC, which is available through this link.
Westamerica Bancorporation (NASDAQ:WABC) traded down $0.40 on Friday, reaching $57.20. 35,895 shares of the company traded hands, compared to its average volume of 87,303. The company has a market cap of $1,530.98, a P/E ratio of 25.29 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%. The company had revenue of $45.22 million for the quarter.
Westamerica Bancorporation declared that its board has initiated a share buyback plan on Thursday, July 27th that authorizes the company to buyback 1,750,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, November 3rd. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.39. Westamerica Bancorporation’s payout ratio is presently 67.83%.
Several institutional investors have recently added to or reduced their stakes in WABC. Huntington National Bank lifted its position in shares of Westamerica Bancorporation by 18.7% during the 2nd quarter. Huntington National Bank now owns 1,971 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 310 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Westamerica Bancorporation during the 2nd quarter valued at $134,000. SG Americas Securities LLC lifted its position in shares of Westamerica Bancorporation by 20.1% during the 1st quarter. SG Americas Securities LLC now owns 2,795 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 467 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Westamerica Bancorporation during the 1st quarter valued at $157,000. Finally, Wealthsource Partners LLC acquired a new position in shares of Westamerica Bancorporation during the 2nd quarter valued at $208,000. Institutional investors own 83.58% of the company’s stock.
Separately, BidaskClub lowered shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th.
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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