Insider Selling: Westamerica Bancorporation (WABC) VP Sells 47,200 Shares of Stock

Westamerica Bancorporation (NASDAQ:WABC) VP James J. Schneck sold 47,200 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $58.79, for a total transaction of $2,774,888.00. Following the transaction, the vice president now owns 6,025 shares of the company’s stock, valued at approximately $354,209.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Westamerica Bancorporation (NASDAQ:WABC) traded up $1.29 on Tuesday, reaching $57.37. 147,951 shares of the company traded hands, compared to its average volume of 101,222. Westamerica Bancorporation has a fifty-two week low of $49.38 and a fifty-two week high of $64.26. The firm has a market capitalization of $1,544.81, a PE ratio of 29.52 and a beta of 1.01.

Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.58 EPS for the quarter. The business had revenue of $54.03 million during the quarter. Westamerica Bancorporation had a net margin of 26.26% and a return on equity of 10.30%.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is currently 84.21%.

Several research analysts recently commented on WABC shares. BidaskClub upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Maxim Group restated a “hold” rating on shares of Westamerica Bancorporation in a report on Friday, January 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 target price on shares of Westamerica Bancorporation in a report on Friday, December 22nd. BMO Capital Markets restated a “sell” rating and set a $50.00 target price on shares of Westamerica Bancorporation in a report on Wednesday, January 24th. Finally, Sandler O’Neill restated a “sell” rating and set a $54.00 target price on shares of Westamerica Bancorporation in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has an average rating of “Sell” and an average price target of $54.00.

A number of hedge funds have recently made changes to their positions in WABC. American Century Companies Inc. lifted its stake in Westamerica Bancorporation by 13.0% in the third quarter. American Century Companies Inc. now owns 2,243,866 shares of the financial services provider’s stock valued at $133,600,000 after acquiring an additional 258,580 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Westamerica Bancorporation by 18.1% in the third quarter. Deprince Race & Zollo Inc. now owns 544,664 shares of the financial services provider’s stock valued at $32,429,000 after acquiring an additional 83,601 shares during the last quarter. Vanguard Group Inc. lifted its stake in Westamerica Bancorporation by 3.1% in the second quarter. Vanguard Group Inc. now owns 2,629,587 shares of the financial services provider’s stock valued at $147,362,000 after acquiring an additional 78,257 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Westamerica Bancorporation by 15.8% in the third quarter. Bank of New York Mellon Corp now owns 571,520 shares of the financial services provider’s stock valued at $34,028,000 after acquiring an additional 77,810 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Westamerica Bancorporation by 29.4% in the third quarter. Russell Investments Group Ltd. now owns 268,824 shares of the financial services provider’s stock valued at $16,005,000 after acquiring an additional 61,007 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Westamerica Bancorporation (NASDAQ:WABC)

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