Westamerica Bancorporation (NASDAQ:WABC) Plans $0.46 Quarterly Dividend

Westamerica Bancorporation (NASDAQ:WABC) announced a quarterly dividend on Thursday, January 22nd. Investors of record on Monday, February 2nd will be given a dividend of 0.46 per share by the financial services provider on Friday, February 13th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, February 2nd.

Westamerica Bancorporation has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 34 years. Westamerica Bancorporation has a dividend payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Westamerica Bancorporation to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.6%.

Westamerica Bancorporation Trading Up 0.7%

NASDAQ WABC opened at $51.52 on Friday. The firm’s fifty day moving average is $48.68 and its two-hundred day moving average is $48.75. Westamerica Bancorporation has a one year low of $42.00 and a one year high of $52.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. The firm has a market cap of $1.28 billion, a PE ratio of 11.40 and a beta of 0.62.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.07 by $0.05. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%.The firm had revenue of $66.05 million during the quarter, compared to the consensus estimate of $61.90 million. Analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Institutional Trading of Westamerica Bancorporation

Several large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in shares of Westamerica Bancorporation by 354.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 666 shares during the last quarter. MAI Capital Management raised its holdings in shares of Westamerica Bancorporation by 126.1% in the second quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 483 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Westamerica Bancorporation by 201.1% in the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 561 shares in the last quarter. Strs Ohio acquired a new stake in shares of Westamerica Bancorporation during the first quarter valued at $96,000. Finally, Jones Financial Companies Lllp purchased a new stake in Westamerica Bancorporation during the 1st quarter worth about $99,000. 81.89% of the stock is currently owned by institutional investors and hedge funds.

About Westamerica Bancorporation

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.