Westamerica Bancorporation (NASDAQ:WABC) SVP Robert James Baker, Jr. Sells 759 Shares of Stock

Westamerica Bancorporation (NASDAQ:WABC) SVP Robert James Baker, Jr. sold 759 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $53.83, for a total transaction of $40,856.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Westamerica Bancorporation Price Performance

NASDAQ WABC opened at $52.91 on Tuesday. Westamerica Bancorporation has a 12 month low of $44.93 and a 12 month high of $56.22. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.78 and a beta of 0.57. The company’s 50 day simple moving average is $51.77 and its 200 day simple moving average is $49.69.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Westamerica Bancorporation had a return on equity of 12.26% and a net margin of 42.08%.The company had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.70 million.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, February 2nd. Westamerica Bancorporation’s payout ratio is currently 40.98%.

Institutional Investors Weigh In On Westamerica Bancorporation

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new stake in shares of Westamerica Bancorporation during the 3rd quarter worth $5,831,000. Y Intercept Hong Kong Ltd lifted its stake in Westamerica Bancorporation by 285.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 58,718 shares of the financial services provider’s stock valued at $2,935,000 after buying an additional 43,500 shares in the last quarter. CWM LLC lifted its stake in Westamerica Bancorporation by 162.8% during the third quarter. CWM LLC now owns 19,585 shares of the financial services provider’s stock valued at $979,000 after buying an additional 12,133 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Westamerica Bancorporation by 43.9% during the third quarter. JPMorgan Chase & Co. now owns 98,266 shares of the financial services provider’s stock valued at $4,912,000 after buying an additional 29,964 shares in the last quarter. Finally, Summit Global Investments purchased a new stake in Westamerica Bancorporation during the third quarter valued at about $838,000. 81.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings raised Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Wall Street Zen cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Westamerica Bancorporation from $55.00 to $58.00 and gave the stock a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

About Westamerica Bancorporation

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.