Westamerica Bancorporation (NASDAQ:WABC) Short Interest Up 20.7% in November

Westamerica Bancorporation (NASDAQ:WABC) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 223,300 shares, an increase of 20.7% from the November 15th total of 185,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 114,000 shares, the short-interest ratio is presently 2.0 days.

Westamerica Bancorporation Stock Down 0.2 %

Shares of Westamerica Bancorporation stock opened at $55.92 on Friday. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $54.16 and a two-hundred day moving average price of $51.33. The stock has a market capitalization of $1.49 billion, a P/E ratio of 10.19 and a beta of 0.57.

Westamerica Bancorporation (NASDAQ:WABC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.27. The business had revenue of $74.07 million during the quarter, compared to the consensus estimate of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. Equities analysts expect that Westamerica Bancorporation will post 5.17 earnings per share for the current year.

Westamerica Bancorporation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 32.06%.

Institutional Investors Weigh In On Westamerica Bancorporation

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Westamerica Bancorporation by 16.4% during the 2nd quarter. CWM LLC now owns 3,649 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 514 shares in the last quarter. Raymond James & Associates boosted its holdings in Westamerica Bancorporation by 14.9% during the second quarter. Raymond James & Associates now owns 58,793 shares of the financial services provider’s stock valued at $2,853,000 after purchasing an additional 7,624 shares in the last quarter. Leeward Investments LLC MA grew its stake in shares of Westamerica Bancorporation by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 170,773 shares of the financial services provider’s stock valued at $8,288,000 after purchasing an additional 9,099 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Westamerica Bancorporation by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,948 shares of the financial services provider’s stock worth $871,000 after buying an additional 318 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Westamerica Bancorporation by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock worth $650,000 after buying an additional 200 shares in the last quarter. 81.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Westamerica Bancorporation Company Profile

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.