Westamerica Bancorporation recently declared a regular quarterly dividend of $0.44 per share ($1.76 annualized) on October 26, 2023. Shareholders of record as of November 6, 2023, will receive the payment on November 17, 2023. At the current share price of $48.32, the stock’s dividend yield stands at 3.64%.
Historical Context
Reflecting on the past five years, the average dividend yield has been 2.93%, with the lowest at 2.41% and the highest at 4.45%. Additionally, the company’s dividend payout ratio is 0.29, indicating a healthy balance between dividends and retained earnings. Moreover, the 3-Year dividend growth rate of 0.07% showcases the company’s commitment to increasing dividends over time.
Fund Sentiment and Analyst Forecasts
Currently, 481 funds or institutions report positions in Westamerica Bancorporation. While there has been a decrease in the number of owners, the average portfolio weight dedicated to WABC has increased to 0.10%. In addition, the put/call ratio of WABC is 0.50, indicating a bullish outlook.
Analyst price forecasts suggest a 15.40% upside, with the average one-year price target for the company at 55.76. The projected annual revenue for Westamerica Bancorporation is 340MM, demonstrating an increase of 5.48%.
Shareholders’ Activity
Notable institutional shareholders include iShares Core S&P Small-Cap ETF, American Century Companies, Vanguard Total Stock Market Index Fund Investor Shares, Vanguard Small-Cap Index Fund Investor Shares, and Mid Cap Value Fund Investor Class. These shareholders have made adjustments in their portfolio allocations in the last quarter, indicating dynamic activity in the stock.
Background and Company Profile
Westamerica Bancorporation serves as the holding company for Westamerica Bank and Bank of Lake County, providing a full range of services to individual and corporate customers in northern and central California. The company’s subsidiaries finance accounts receivable, inventory lines of credit, and term business loans, in addition to providing data processing services.
