Westamerica Bancorporation (NASDAQ:WABC) Short Interest Update

Westamerica Bancorporation (NASDAQ:WABC) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 499,370 shares, an increase of 25.8% from the January 15th total of 396,990 shares. Based on an average trading volume of 151,875 shares, the short-interest ratio is currently 3.3 days. Approximately 2.1% of the company’s stock are sold short. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 151,875 shares, the short-interest ratio is currently 3.3 days.

Institutional Investors Weigh In On Westamerica Bancorporation

A number of institutional investors have recently bought and sold shares of WABC. EverSource Wealth Advisors LLC lifted its holdings in shares of Westamerica Bancorporation by 354.3% in the second quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock worth $41,000 after buying an additional 666 shares in the last quarter. MAI Capital Management increased its holdings in Westamerica Bancorporation by 126.1% in the 2nd quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 483 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Westamerica Bancorporation by 201.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Westamerica Bancorporation by 49.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,055 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 351 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Westamerica Bancorporation by 7,286.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,108 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Up 0.1%

NASDAQ:WABC opened at $52.21 on Monday. The firm has a market cap of $1.30 billion, a P/E ratio of 11.55 and a beta of 0.62. Westamerica Bancorporation has a fifty-two week low of $42.00 and a fifty-two week high of $53.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.29 and a current ratio of 0.26. The firm has a 50-day simple moving average of $49.78 and a two-hundred day simple moving average of $48.84.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The firm had revenue of $66.05 million during the quarter, compared to analysts’ expectations of $61.90 million. Westamerica Bancorporation had a net margin of 42.75% and a return on equity of 12.52%. Analysts predict that Westamerica Bancorporation will post 4.35 earnings per share for the current fiscal year.

Westamerica Bancorporation announced that its board has approved a share repurchase program on Thursday, December 18th that permits the company to buyback $2.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 0.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Westamerica Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.84 annualized dividend and a dividend yield of 3.5%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 40.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen cut shares of Westamerica Bancorporation from a “hold” rating to a “sell” rating in a research note on Saturday. Keefe, Bruyette & Woods raised their target price on Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Westamerica Bancorporation in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.50.

Westamerica Bancorporation Company Profile

Westamerica Bancorporation (NASDAQ: WABC) is a California-based bank holding company that provides a comprehensive suite of commercial banking, trust and wealth management services. Through its primary subsidiary, Westamerica Bank, the company offers deposit products, lending solutions and treasury management to a diverse clientele that includes small and mid-sized businesses, professionals, non-profit organizations and individuals.

The company’s lending portfolio encompasses commercial real estate financing, agricultural loans, equipment financing and lines of credit designed to support working capital needs.