Westamerica Bancorporation (NASDAQ:WABC) Issues Earnings Results

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.05, Zacks reports. Westamerica Bancorporation had a net margin of 43.19% and a return on equity of 13.10%.Westamerica Bancorporation Stock PerformanceWABC stock traded up $1.91 on Thursday, hitting $50.43. The company's stock had a trading volume of 68,836 shares, compared to its average volume of 123,838. The firm has a 50 day moving average of $48.38 and a two-hundred day moving average of $48.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 10.89 and a beta of 0.62. Westamerica Bancorporation has a 1 year low of $42.00 and a 1 year high of $53.85. Westamerica Bancorporation Dividend AnnouncementThe firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $1.84 annualized dividend and a yield of 3.6%. Westamerica Bancorporation's dividend payout ratio (DPR) is 40.09%. Institutional Investors Weigh In On Westamerica BancorporationA number of hedge funds have recently bought and sold shares of WABC. Brevan Howard Capital Management LP bought a new stake in shares of Westamerica Bancorporation during the 3rd quarter worth $333,000. Horizon Investments LLC boosted its position in shares of Westamerica Bancorporation by 21.9% during the 3rd quarter. Horizon Investments LLC now owns 11,460 shares of the financial services provider's stock valued at $567,000 after acquiring an additional 2,055 shares during the last quarter. Entropy Technologies LP purchased a new position in Westamerica Bancorporation in the 3rd quarter worth $344,000. Franklin Resources Inc. boosted its holdings in Westamerica Bancorporation by 20.8% in the third quarter. Franklin Resources Inc. now owns 9,034 shares of the financial services provider's stock valued at $452,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Westamerica Bancorporation during the second quarter valued at $942,000. Institutional investors and hedge funds own 81.89% of the company's stock. Wall Street Analyst Weigh InSeveral equities analysts have issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Westamerica Bancorporation in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Westamerica Bancorporation from a "hold" rating to a "sell" rating in a report on Saturday, November 1st. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $52.00.View Our Latest Stock Report on Westamerica BancorporationWestamerica Bancorporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 18th that authorizes the company to repurchase $2.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 0.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued. Westamerica Bancorporation Company Profile (Get Free Report)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.Featured StoriesFive stocks we like better than Westamerica BancorporationElon Taking SpaceX Public! $100 Pre-IPO Opportunity!How a Family Trust May Be Able To Help Preserve Your WealthA U.S. “birthright” claim worth trillions - activated quietlyExecutive Order 14330: Trump’s Biggest YetThe Crash Has Already Started (Most Just Don’t See It Yet)This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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