Westamerica Bancorporation (NASDAQ:WABC) CEO David L. Payne Sells 10,000 Shares

Westamerica Bancorporation (NASDAQ:WABCGet Free Report) CEO David L. Payne sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $49.51, for a total value of $495,100.00. Following the sale, the chief executive officer now owns 268,689 shares of the company’s stock, valued at approximately $13,302,792.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Westamerica Bancorporation Stock Performance

WABC stock opened at $49.40 on Wednesday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.15 and a beta of 0.60. Westamerica Bancorporation has a 1 year low of $35.52 and a 1 year high of $57.96. The stock’s fifty day moving average is $53.34 and its two-hundred day moving average is $48.47.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, February 2nd. Westamerica Bancorporation’s dividend payout ratio is currently 29.04%.

Analyst Ratings Changes

A number of analysts have recently weighed in on WABC shares. Keefe, Bruyette & Woods decreased their price target on shares of Westamerica Bancorporation from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 19th. TheStreet raised shares of Westamerica Bancorporation from a “c+” rating to a “b-” rating in a report on Wednesday, November 22nd. Piper Sandler decreased their price objective on shares of Westamerica Bancorporation from $56.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Saturday.

View Our Latest Stock Analysis on Westamerica Bancorporation

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in Westamerica Bancorporation by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,294 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 214 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Westamerica Bancorporation by 2.4% during the second quarter. MetLife Investment Management LLC now owns 13,832 shares of the financial services provider’s stock worth $530,000 after buying an additional 320 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Westamerica Bancorporation by 27.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,648 shares of the financial services provider’s stock worth $71,000 after buying an additional 355 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Westamerica Bancorporation by 5.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 9,083 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 472 shares during the period. Finally, LPL Financial LLC increased its position in shares of Westamerica Bancorporation by 5.0% during the third quarter. LPL Financial LLC now owns 9,997 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 479 shares during the period. 75.11% of the stock is owned by institutional investors and hedge funds.

About Westamerica Bancorporation

(Get Free Report)

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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