In a recent transaction, George S. Ensinger, Senior Vice President and Human Resources Division Manager of Westamerica Bancorporation (NASDAQ:WABC), sold 635 shares of the company's common stock. The sale was conducted at an average price of $47.6139 per share, totaling approximately $30,234.
The transaction, dated April 29, 2024, was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Ensinger's direct holdings in Westamerica Bancorporation common stock amounted to 4,073 shares. It is worth noting that the shares sold by Ensinger include those from dividend reinvestment, as indicated by the footnotes in the filing.
Westamerica Bancorporation, based in San Rafael, California, operates as a bank holding company. The sale by a high-level executive may attract the attention of investors, as executive transactions are often closely monitored for insights into a company's internal perspective.
The company's stock performance and further transactions by executives will continue to be areas of interest for shareholders and potential investors.
InvestingPro Insights
Amidst the recent transaction by George S. Ensinger of Westamerica Bancorporation (NASDAQ:WABC), investors may find it beneficial to consider current financial metrics and analyst insights. According to real-time data from InvestingPro, Westamerica Bancorporation has a market capitalization of approximately $1.27 billion USD, and its stock is trading at a P/E ratio of 8.05, reflecting a valuation that is low relative to near-term earnings growth. This is further emphasized by the company's PEG Ratio for the last twelve months as of Q1 2024, which stands at 0.57, suggesting a potentially undervalued stock in terms of growth.
InvestingPro Tips highlight that Westamerica Bancorporation has raised its dividend for 31 consecutive years and has maintained dividend payments for 50 consecutive years, underscoring a strong commitment to shareholder returns. Nevertheless, analysts have flagged concerns, with three analysts revising their earnings estimates downwards for the upcoming period and expectations that net income may drop this year. It's also noted that the company suffers from weak gross profit margins. These insights could provide a nuanced view of the company's financial health and future prospects.
Investors looking to delve deeper into Westamerica Bancorporation's outlook can explore additional InvestingPro Tips by visiting https://www.investing.com/pro/WABC, where 8 more tips are available. For those considering an InvestingPro subscription, using the coupon code PRONEWS24 will secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive toolset for informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.