Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03, Yahoo Finance reports. The company had revenue of $79.57 million during the quarter, compared to the consensus estimate of $74.28 million. Westamerica Bancorporation had a net margin of 47.12% and a return on equity of 20.70%.
Westamerica Bancorporation Stock Down 1.5 %
Shares of WABC opened at $54.73 on Friday. The stock’s 50-day moving average price is $48.92 and its two-hundred day moving average price is $48.45. Westamerica Bancorporation has a 12 month low of $41.89 and a 12 month high of $58.49. The company has a market capitalization of $1.46 billion, a PE ratio of 9.24 and a beta of 0.56. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.25.
Westamerica Bancorporation Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.44 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.22%. Westamerica Bancorporation’s payout ratio is 29.73%.
Insider Activity
Analysts Set New Price Targets
A number of research firms have recently commented on WABC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $57.00 price target (down previously from $58.00) on shares of Westamerica Bancorporation in a report on Monday, April 22nd. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler lifted their price target on Westamerica Bancorporation from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday.
Check Out Our Latest Stock Analysis on WABC
Westamerica Bancorporation Company Profile
Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.
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