Insider Selling: Westamerica Bancorp SVP Sells 5,700 Shares of Stock (WABC)
Westamerica Bancorp (NASDAQ:WABC) SVP David Robinson unloaded 5,700 shares of Westamerica Bancorp stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.00, for a total transaction of $302,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Westamerica Bancorp (NASDAQ:WABC) traded up 0.52% during mid-day trading on Friday, hitting $53.29. The stock had a trading volume of 116,366 shares. 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 $1.421 billion and a P/E ratio of 20.39.
Westamerica Bancorp (NASDAQ:WABC) last released its earnings data on Wednesday, October 16th. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.63. During the same quarter last year, the company posted $0.73 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Investors 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 2.85%. The ex-dividend date is Thursday, October 31st. This is an increase from Westamerica Bancorp’s previous quarterly dividend of $0.37.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Westamerica Bancorp currently has a consensus rating of “Hold” and an average target price 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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