Westamerica Bancorporation (NASDAQ:WABC) Short Interest Update

Westamerica Bancorporation (NASDAQ:WABC) was the recipient of a large 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. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 151,875 shares, the short-interest ratio is presently 3.3 days. Based on an average daily trading volume, of 151,875 shares, the short-interest ratio is presently 3.3 days. Currently, 2.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Westamerica Bancorporation

Large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Westamerica Bancorporation by 6.8% in the 1st 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 shares of Westamerica Bancorporation by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,261 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 642 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Westamerica Bancorporation in the first quarter worth $99,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 in the last quarter. Finally, Jane Street Group LLC raised its position in 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 buying an additional 60,102 shares during the period. Institutional investors and hedge funds own 81.89% of the company’s stock.

Westamerica Bancorporation Trading Up 0.8%

Shares of NASDAQ:WABC opened at $52.63 on Wednesday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.64 and a beta of 0.62. Westamerica Bancorporation has a 1-year low of $42.00 and a 1-year 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 company has a 50 day moving average price of $49.97 and a 200 day moving average price of $48.91.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings results on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $66.05 million for 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%. On average, research analysts anticipate that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation announced that its board has approved a share repurchase 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 purchase up to 0.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.46 per share. 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 dividend payout ratio is currently 40.71%.

Analyst Ratings Changes

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

About Westamerica Bancorporation

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.