Westamerica Bancorporation (NASDAQ:WABC) Sees Significant Growth in Short Interest

Westamerica Bancorporation (NASDAQ:WABC) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 207,300 shares, a growth of 25.2% from the December 31st total of 165,600 shares. Based on an average daily trading volume, of 117,100 shares, the short-interest ratio is presently 1.8 days. Approximately 0.8% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Thursday, October 17th.

Westamerica Bancorporation Stock Performance

NASDAQ:WABC traded down $0.02 during mid-day trading on Friday, reaching $51.76. The company’s stock had a trading volume of 94,310 shares, compared to its average volume of 104,298. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.38 billion, a P/E ratio of 9.95 and a beta of 0.58. The firm’s fifty day moving average price is $53.48 and its two-hundred day moving average price is $52.29. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Westamerica Bancorporation had a return on equity of 16.15% and a net margin of 44.55%. During the same quarter in the previous year, the business posted $1.48 EPS. On average, equities analysts forecast that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, February 3rd. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 33.85%.

Institutional Trading of Westamerica Bancorporation

Several large investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its holdings in Westamerica Bancorporation by 3.0% in the 4th quarter. New York State Common Retirement Fund now owns 139,430 shares of the financial services provider’s stock worth $7,314,000 after buying an additional 4,115 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Westamerica Bancorporation by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 144,864 shares of the financial services provider’s stock worth $7,600,000 after acquiring an additional 5,368 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Westamerica Bancorporation by 182.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,249 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 13,092 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Westamerica Bancorporation during the 4th quarter valued at approximately $65,000. Finally, KBC Group NV lifted its holdings in Westamerica Bancorporation by 71.4% in the 4th quarter. KBC Group NV now owns 1,974 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 822 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

About Westamerica Bancorporation

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit.