Westamerica Bancorporation (NASDAQ:WABC) Issues Earnings Results

Westamerica Bancorporation (NASDAQ:WABC) released its earnings results on Thursday. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05, Zacks reports. Westamerica Bancorporation had a net margin of 41.71% and a return on equity of 12.31%.

Westamerica Bancorporation Trading Up 3.5%

NASDAQ:WABC traded up $2.08 on Thursday, hitting $60.78. The company’s stock had a trading volume of 115,827 shares, compared to its average volume of 189,917. The stock has a fifty day moving average of $59.05 and a two-hundred day moving average of $57.40. The firm has a market capitalization of $1.40 billion, a P/E ratio of 13.39 and a beta of 0.56. Westamerica Bancorporation has a one year low of $44.93 and a one year high of $63.61.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 3rd. Westamerica Bancorporation’s dividend payout ratio is presently 42.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WABC. Wall Street Zen raised Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings raised Westamerica Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Westamerica Bancorporation from $60.00 to $64.00 and gave the company a “market perform” rating in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Westamerica Bancorporation presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

About Westamerica Bancorporation

Westamerica Bancorporation is a bank holding company headquartered in San Rafael, California. Its principal subsidiary, Westamerica Bank, is a community bank serving individuals, businesses, nonprofit organizations and public entities in Northern and Central California.

Westamerica Bank offers a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, commercial and consumer loans, residential and commercial real estate financing, and lines of credit.