Robert James Baker Jr., who serves as Senior Vice President and Banking Division Manager at Westamerica Bancorporation (NASDAQ: WABC), reported a sale of company common stock in a recent regulatory filing.
The filing shows that on April 20, 2026, Mr. Baker sold 759 shares at a per-share price of $53.8337, producing total proceeds of $40,859. After completing this transaction he no longer holds any Westamerica common shares directly. He does, however, retain an indirect interest of 3,729.514 shares through an Employee Stock Ownership Plan (ESOP).
At the time of the report the stock was trading at $52.91, a modest decline from the price at which Mr. Baker executed his sale. The shares have risen almost 20% over the prior 12 months.
Market analysis cited in the filing describes the shares as appearing undervalued at current levels, noting a price-to-earnings ratio of 11.81 and a dividend yield of 3.48%. The company is also noted to have increased its dividend for 33 consecutive years.
Westamerica’s most recent quarterly results, included in the same regulatory context, showed first-quarter earnings per share of $1.13, outpacing analyst expectations of $1.08. Revenue for the quarter totaled $62.2 million, above the consensus estimate of $60.7 million.
Net income for the quarter was $27.4 million, a slight decrease from $27.8 million in the prior quarter. The company recorded a reversal of provision for credit losses of $300,000, which added approximately $0.01 to reported earnings per share.
Management highlighted the bank’s low-cost deposit mix as a contributor to favorable funding metrics. Non-interest-bearing checking accounts represented 46% of deposits, enabling an annualized funding cost of 0.24% on the company’s loan and bond portfolios.
These regulatory disclosures combine an insider transaction with operating results that beat expectations on key metrics while showing a small quarter-over-quarter dip in net income. The report leaves open the implications of the insider sale for investors; the filing documents the transaction and the executive’s continued indirect holdings via the ESOP.