Robert James Baker, Jr. Sells 710 Shares of Westamerica Bancorporation (NASDAQ:WABC) Stock

Westamerica Bancorporation (NASDAQ:WABC) SVP Robert James Baker, Jr. sold 710 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $48.16, for a total transaction of $34,193.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ WABC opened at $48.23 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.27 and a quick ratio of 0.26. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $59.97. The firm has a fifty day moving average price of $48.84 and a 200-day moving average price of $51.60. The stock has a market cap of $1.29 billion, a PE ratio of 9.28 and a beta of 0.63.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.07. The firm had revenue of $66.71 million during the quarter, compared to analysts’ expectations of $66.47 million. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. Equities analysts anticipate that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Westamerica Bancorporation’s previous quarterly dividend of $0.44. Westamerica Bancorporation’s dividend payout ratio is 35.27%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WABC shares. Piper Sandler reduced their price target on shares of Westamerica Bancorporation from $54.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on shares of Westamerica Bancorporation from $58.00 to $55.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in Westamerica Bancorporation by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 824 shares of the financial services provider’s stock valued at $43,000 after buying an additional 734 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Westamerica Bancorporation in the fourth quarter worth $65,000. KBC Group NV raised its stake in Westamerica Bancorporation by 71.4% during the fourth quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 822 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider’s stock worth $114,000 after buying an additional 268 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Westamerica Bancorporation in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.