SAN RAFAEL, Calif. - Westamerica Bancorporation (NASDAQ:WABC) announced today the appointment of Martin Camsey to its Board of Directors, bringing over 35 years of experience in the retail automobile industry to the table. David L. Payne, Chairman, President, and Chief Executive Officer of Westamerica Bancorporation, expressed confidence that Camsey's background would enhance the company's governance practices.
Camsey, who retired in 2022, previously held the position of Chief Financial Officer at O'Gara Coach Company and has a history of roles ranging from Controller to Vice President/CFO in the automobile industry. His career also includes a five-year tenure with Price Waterhouse. Beyond his professional experience, Camsey is active in the community, having served on the boards of various nonprofit organizations.
In his new role, Camsey will serve on the Audit and Employee Benefits committees of Westamerica Bank, a wholly owned subsidiary of the Bancorporation, which operates commercial banking and trust offices throughout Northern and Central California.
Camsey holds a BS degree in Business Administration/Accounting from CSU Sacramento and is a Certified Public Accountant (Inactive) in California. His educational background and expertise in finance and administration are expected to contribute significantly to the Board's financial oversight.
This news is based on a press release statement from Westamerica Bancorporation.
InvestingPro Insights
As Westamerica Bancorporation welcomes Martin Camsey to its Board of Directors, the company's financial health and strategic direction remain a focal point for investors. With a market capitalization of approximately $1.25 billion and a price-to-earnings (P/E) ratio of 7.77, Westamerica stands out for its valuation metrics. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is closely aligned with its performance over the last twelve months as of Q4 2023, indicating consistency in valuation.
InvestingPro Tips suggest that while two analysts have revised their earnings expectations downwards for the upcoming period, Westamerica has maintained a strong track record of dividend payments, achieving 50 consecutive years of payouts. This impressive streak, alongside a dividend yield of 3.65%, could be particularly attractive to income-focused investors. Moreover, the company's profitability over the last twelve months is expected to continue, with analysts predicting Westamerica will be profitable this year as well.
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Westamerica Bancorporation's next earnings date is slated for April 18, 2024. With the appointment of a seasoned financial expert like Camsey to the board, the company appears poised to continue its tradition of strong corporate governance and financial prudence. The insights provided by InvestingPro could offer investors a more nuanced understanding of the company's potential in the context of its recent developments and historical performance.
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