Westamerica Bancorporation (NASDAQ:WABC) Short Interest Update

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Westamerica Bancorporation

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Westamerica Bancorporation by 6.8% during the first quarter. Royal Bank of Canada now owns 18,531 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 1,183 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Westamerica Bancorporation by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock worth $773,000 after buying an additional 642 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Westamerica Bancorporation in the 1st quarter worth approximately $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Westamerica Bancorporation by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,051 shares of the financial services provider’s stock valued at $3,243,000 after buying an additional 5,293 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Westamerica Bancorporation by 815.8% during the first quarter. Jane Street Group LLC now owns 67,469 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 60,102 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.8%

NASDAQ WABC traded up $0.42 during trading on Tuesday, hitting $52.63. 146,757 shares of the company’s stock traded hands, compared to its average volume of 152,370. The stock has a fifty day moving average of $49.87 and a two-hundred day moving average of $48.87. Westamerica Bancorporation has a 12-month low of $42.00 and a 12-month high of $53.36. The firm has a market cap of $1.31 billion, a P/E ratio of 11.64 and a beta of 0.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.26 and a quick ratio of 0.29.

Westamerica Bancorporation (NASDAQ:WABC) last issued its earnings results 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 company had revenue of $66.05 million during the quarter, compared to analysts’ expectations of $61.90 million. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%. As a group, sell-side analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

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

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

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.