Insider Selling: Westamerica Bancorp SVP Sells 8,790 Shares of Stock (WABC)
Westamerica Bancorp (NASDAQ:WABC) SVP Dennis Hansen sold 8,790 shares of Westamerica Bancorp stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $52.47, for a total value of $461,211.30. Following the sale, the senior vice president now directly owns 30 shares in the company, valued at approximately $1,574. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Westamerica Bancorp (NASDAQ:WABC) traded up 0.13% on Thursday, hitting $52.97. 100,160 shares of the company’s stock traded hands. Westamerica Bancorp has a 1-year low of $40.50 and a 1-year high of $50.78. The stock has a 50-day moving average of $48.40 and a 200-day moving average of $45.99. The company has a market cap of $1.413 billion and a price-to-earnings ratio of 20.35.
Westamerica Bancorp (NASDAQ:WABC) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. During the same quarter last year, the company posted $0.73 earnings per share. On average, analysts predict that Westamerica Bancorp will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.87%.
A number of research firms have recently commented on WABC. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Westamerica Bancorp from $47.50 to $50.00 in a research note to investors on Monday. They now have a “market perform” rating on the stock. Analysts at Zacks upgraded shares of Westamerica Bancorp from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 24th. They now have a $51.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Westamerica Bancorp has a consensus rating of “Hold” and a consensus price target of $46.20.
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 (NASDAQ:WABC).
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