Westamerica Bancorporation (WABC) Getting Somewhat Favorable News Coverage, Study Finds
Media headlines about Westamerica Bancorporation (NASDAQ:WABC) have trended somewhat positive this week, Accern Sentiment reports. Accern scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Westamerica Bancorporation earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.8791129789947 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
WABC has been the subject of several analyst reports. BidaskClub raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 6th. BMO Capital Markets cut their target price on shares of Westamerica Bancorporation from $52.00 to $50.00 and set an “underperform” rating for the company in a research note on Wednesday, April 25th. Finally, Maxim Group reissued a “hold” rating on shares of Westamerica Bancorporation in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Westamerica Bancorporation presently has a consensus rating of “Hold” and a consensus target price of $54.67.
WABC stock traded up $0.13 during trading on Friday, hitting $63.08. The stock had a trading volume of 4,834 shares, compared to its average volume of 98,083. Westamerica Bancorporation has a 1-year low of $49.38 and a 1-year high of $64.26. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.42 and a beta of 1.02.
Westamerica Bancorporation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 26th that permits the company to repurchase 1,750,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 17th. Investors of record on Monday, August 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, August 3rd.
In related news, SVP Dennis R. Hansen sold 16,467 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $59.71, for a total value of $983,244.57. Following the completion of the transaction, the senior vice president now owns 18,787 shares of the company’s stock, valued at approximately $1,121,771.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.
About Westamerica Bancorporation
Westamerica Bancorporation operates as a bank holding company for 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 to local businesses and professionals.
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