Westamerica Bancorporation Announces Quarterly Dividend of $0.44 (NASDAQ:WABC)

Westamerica Bancorporation (NASDAQ:WABC) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.44 per share by the financial services provider on Friday, February 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Monday, February 3rd.

Westamerica Bancorporation has increased its dividend payment by an average of 2.2% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Westamerica Bancorporation has a payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. 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 $1.76 annual dividend with an expected future payout ratio of 44.6%.

Westamerica Bancorporation Stock Performance

NASDAQ WABC opened at $51.81 on Friday. The business’s 50-day moving average price is $53.93 and its 200 day moving average price is $52.26. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.38 billion, a P/E ratio of 9.96 and a beta of 0.58. Westamerica Bancorporation has a 52-week low of $43.82 and a 52-week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. During the same period last year, the company earned $1.48 EPS. On average, equities research analysts expect that Westamerica Bancorporation will post 4.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

About Westamerica Bancorporation

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.