Westamerica Bancorporation (NASDAQ:WABC) to Issue $0.48 Quarterly Dividend

Westamerica Bancorporation (NASDAQ:WABC) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Monday, August 3rd will be paid a dividend of 0.48 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, August 3rd.

Westamerica Bancorporation has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 34 years. Westamerica Bancorporation has a payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $60.31 on Friday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.28 and a beta of 0.56. The firm’s fifty day simple moving average is $57.71 and its 200-day simple moving average is $53.87. Westamerica Bancorporation has a twelve month low of $44.93 and a twelve month high of $63.61. The company has a current ratio of 0.20, a quick ratio of 0.22 and a debt-to-equity ratio of 0.15.

Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. The firm had revenue of $62.77 million for the quarter, compared to analyst estimates of $61.60 million. Westamerica Bancorporation had a return on equity of 12.31% and a net margin of 41.71%.During the same quarter in the prior year, the company posted $1.12 earnings per share.

Westamerica Bancorporation Company Profile

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.