Westamerica Bancorporation (WABC) SVP Dennis R. Hansen Sells 20,000 Shares
Westamerica Bancorporation (NASDAQ:WABC) SVP Dennis R. Hansen sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $58.13, for a total transaction of $1,162,600.00. Following the transaction, the senior vice president now directly owns 19,721 shares of the company’s stock, valued at $1,146,381.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Westamerica Bancorporation (WABC) traded down $0.80 during trading hours on Friday, hitting $57.20. 24,179 shares of the stock were exchanged, compared to its average volume of 87,303. The company has a market capitalization of $1,530.98, a price-to-earnings ratio of 25.29 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $45.22 million during the quarter. Westamerica Bancorporation had a net margin of 33.38% and a return on equity of 10.28%.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be paid a $0.40 dividend. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 3rd. Westamerica Bancorporation’s dividend payout ratio is currently 67.83%.
Westamerica Bancorporation announced that its Board of Directors has authorized a share repurchase program on Thursday, July 27th that authorizes the company to repurchase 1,750,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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Separately, BidaskClub lowered shares of Westamerica Bancorporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th.
Large investors have recently modified their holdings of the company. Huntington National Bank lifted its stake in shares of Westamerica Bancorporation by 18.7% in the 2nd quarter. Huntington National Bank now owns 1,971 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 310 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $134,000. SG Americas Securities LLC lifted its stake in shares of Westamerica Bancorporation by 20.1% in the 1st quarter. SG Americas Securities LLC now owns 2,795 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 467 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Westamerica Bancorporation in the 1st quarter worth approximately $157,000. Finally, Wealthsource Partners LLC acquired a new stake in shares of Westamerica Bancorporation in the 2nd quarter worth approximately $208,000. 83.58% of the stock is owned by institutional investors.
Westamerica Bancorporation Company Profile
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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