Somewhat Favorable News Coverage Somewhat Unlikely to Impact Westamerica Bancorporation (WABC) Share Price
Media coverage about Westamerica Bancorporation (NASDAQ:WABC) has been trending somewhat positive this week, Accern reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Westamerica Bancorporation earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 45.8766517780989 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Westamerica Bancorporation (WABC) traded up $0.11 during midday trading on Friday, reaching $54.07. 45,398 shares of the company’s stock traded hands, compared to its average volume of 85,467. Westamerica Bancorporation has a fifty-two week low of $49.38 and a fifty-two week high of $65.34. The stock has a market cap of $1,420.00, a PE ratio of 23.66 and a beta of 1.06.
Westamerica Bancorporation (NASDAQ:WABC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Westamerica Bancorporation had a net margin of 33.21% and a return on equity of 10.04%. The business had revenue of $45.22 million for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Monday, November 6th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 3rd. This is a boost from Westamerica Bancorporation’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.96%. Westamerica Bancorporation’s dividend payout ratio is currently 69.57%.
Westamerica Bancorporation declared that its Board of Directors has approved a share buyback program on Thursday, July 27th that authorizes the company to repurchase 1,750,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Separately, BidaskClub upgraded shares of Westamerica Bancorporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th.
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In other news, SVP Dennis R. Hansen sold 20,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $58.13, for a total value of $1,162,600.00. Following the transaction, the senior vice president now owns 19,721 shares of the company’s stock, valued at approximately $1,146,381.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James J. Schneck sold 6,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $58.86, for a total transaction of $353,160.00. Following the completion of the transaction, the vice president now directly owns 6,025 shares in the company, valued at approximately $354,631.50. The disclosure for this sale can be found here. Insiders sold a total of 56,868 shares of company stock worth $3,340,734 in the last three months. Insiders own 4.90% of the company’s stock.
Westamerica Bancorporation Company Profile
Westamerica Bancorporation is a bank holding company. The Company provides a range of banking services to individual and corporate customers in Northern and Central California through its subsidiary bank, Westamerica Bank. The communities served are located in Northern and Central California, from Mendocino, Lake and Nevada Counties in the north to Kern County in the south.
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