Press coverage about Westamerica Bancorporation (NASDAQ:WABC) has trended somewhat positive recently, according to Accern Sentiment. The research firm ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Westamerica Bancorporation earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.3528718207056 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Separately, BidaskClub upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th.
Shares of Westamerica Bancorporation (NASDAQ WABC) traded up 3.22% during midday trading on Monday, hitting $52.18. 60,720 shares of the company were exchanged. Westamerica Bancorporation has a one year low of $47.31 and a one year high of $65.34. The firm has a market cap of $1.37 billion, a P/E ratio of 22.39 and a beta of 1.06. The company’s 50 day moving average price is $52.42 and its 200 day moving average price is $54.46.
Westamerica Bancorporation (NASDAQ:WABC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $47.90 million for the quarter, compared to analysts’ expectations of $46.70 million. Westamerica Bancorporation had a return on equity of 10.57% and a net margin of 33.83%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities analysts expect that Westamerica Bancorporation will post $2.32 EPS for the current year.
Westamerica Bancorporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that permits the company to buyback 1,750,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, August 3rd. Westamerica Bancorporation’s payout ratio is presently 66.67%.
In other news, Director Edward B. Sylvester sold 1,260 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $54.40, for a total transaction of $68,544.00. Following the transaction, the director now owns 72,490 shares of the company’s stock, valued at $3,943,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.90% 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.
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