Westamerica Bancorporation (NASDAQ:WABC) to Issue $0.46 Quarterly Dividend

Westamerica Bancorporation (NASDAQ:WABC) announced a quarterly dividend on Thursday, January 22nd. Investors of record on Monday, February 2nd will be given a dividend of 0.46 per share by the financial services provider on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, February 2nd.

Westamerica Bancorporation has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 34 years. Westamerica Bancorporation has a payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Westamerica Bancorporation to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 46.6%.

Westamerica Bancorporation Stock Performance

Shares of NASDAQ:WABC opened at $51.25 on Friday. The business has a fifty day moving average of $48.68 and a 200-day moving average of $48.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. Westamerica Bancorporation has a twelve month low of $42.00 and a twelve month high of $52.85. The firm has a market cap of $1.28 billion, a PE ratio of 11.34 and a beta of 0.62.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings results on Thursday, January 15th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. The business had revenue of $66.05 million during the quarter, compared to analyst estimates of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. On average, equities research analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WABC has been the topic of several recent research reports. Wall Street Zen upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Keefe, Bruyette & Woods increased their target price on Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.50.

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.