Westamerica Bancorporation (NASDAQ:WABC) – Piper Sandler Research analysts raised their first quarter 2022 earnings per share (EPS) estimates for Westamerica Bancorporation in a report released Thursday, January 20. Piper Sandler analyst A. Liesch now expects the financial services provider to post earnings of $0.80 per share for the quarter, up from its previous estimate of $0.77. . Piper Sandler also released estimates for Westamerica Bancorporation Q2 2022 earnings at $0.80 EPS, Q1 2023 earnings at $0.80 EPS, Q2 2023 earnings at $0.82 EPS, Q3 2023 earnings at $0.84 EPS, Q4 2023 earnings at $0.84 EPS and FY2023 earnings at $3.30 EPS.
A number of other analysts have also released reports on the stock. TheStreet downgraded shares of Westamerica Bancorporation from a “c+” rating to a “b-” rating in a Tuesday, Nov. 9 research note. Zacks Investment Research downgraded shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a Wednesday, Dec. 22 report. Finally, Maxim Group reaffirmed a “buy” rating and set a price target of $75.00 on shares of Westamerica Bancorporation in a report released Friday.
Shares of WABC opened at $58.54 on Monday. The company’s fifty-day moving average is $57.50 and its 200-day moving average is $56.59. Westamerica Bancorporation has a fifty-two week minimum of $53.24 and a fifty-two week maximum of $66.85. The stock has a market capitalization of $1.57 billion, a PE ratio of 17.74 and a beta of 0.63. Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Wednesday, January 19. The financial services provider reported earnings per share (EPS) of $0.81 for the quarter, missing analyst consensus estimates of $0.82 per ($0.01). Westamerica Bancorporation achieved a return on equity of 10.14% and a net margin of 40.32%. In the same quarter a year earlier, the company posted earnings per share of $0.74.
Several large investors have recently changed their positions in the company. Deprince Race & Zollo Inc. bought a new position in Westamerica Bancorporation in Q2 worth $10,894,000. Price T Rowe Associates Inc. ® increased its stake in shares of Westamerica Bancorporation by 2.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,570,995 shares of the financial services provider worth $207,225,000 after acquiring 73,590 additional shares in the last quarter. First Trust Advisors LP increased its position in shares of Westamerica Bancorporation by 170.3% during the second quarter. First Trust Advisors LP now owns 109,629 shares of the financial services provider worth $6,362,000 after buying an additional 69,074 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Westamerica Bancorporation by 1.9% during the second quarter. Vanguard Group Inc. now owns 3,079,028 shares of the financial services provider worth $178,676,000 after buying an additional 56,481 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Westamerica Bancorporation by 72.4% during the third quarter. Russell Investments Group Ltd. now owns 128,770 shares of the financial services provider worth $7,243,000 after purchasing an additional 54,097 shares in the last quarter. Hedge funds and other institutional investors own 75.36% of the company’s shares.
The company also recently announced a quarterly dividend, which was paid on Friday, November 19. Shareholders of record on Monday, November 8 received a dividend of $0.42 per share. This is a positive change from Westamerica Bancorporation’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, November 5. This represents a dividend of $1.68 on an annualized basis and a dividend yield of 2.87%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 50.91%.
About Westamerica Bancorporation
Westamerica Bancorporation operates as a bank holding company. It provides a range of retail and business banking services in northern and central California. It offers loans and lines of credit, online services, mobile banking, checks, savings, credit cards, cash management, overdraft services, merchant services, business banking services, bank-owned property, business loan prevention, payroll and trust services.
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