Westamerica Bancorporation (NASDAQ:WABC) Short Interest Update

by · The Markets Daily

Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 175,900 shares, a decrease of 27.6% from the October 15th total of 243,000 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 112,300 shares, the days-to-cover ratio is currently 1.6 days.

Westamerica Bancorporation Stock Down 0.5 %

Shares of NASDAQ WABC traded down $0.27 during midday trading on Thursday, reaching $56.86. 96,728 shares of the company’s stock traded hands, compared to its average volume of 130,973. The company has a quick ratio of 0.25, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $50.91 and its 200-day simple moving average is $50.13. Westamerica Bancorporation has a one year low of $43.82 and a one year high of $59.33. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 10.41 and a beta of 0.54.

Westamerica Bancorporation (NASDAQ:WABC – Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.27. The firm had revenue of $74.07 million for 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%. On average, analysts predict that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a $0.44 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.10%. Westamerica Bancorporation’s dividend payout ratio (DPR) is 32.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on WABC shares. StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Maxim Group lowered shares of Westamerica Bancorporation from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Piper Sandler raised their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.00.

Check Out Our Latest Research Report on WABC

Institutional Investors Weigh In On Westamerica Bancorporation

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Westamerica Bancorporation by 25.6% during the first quarter. BNP Paribas Financial Markets now owns 20,244 shares of the financial services provider’s stock worth $990,000 after buying an additional 4,122 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Westamerica Bancorporation by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 23,342 shares of the financial services provider’s stock worth $1,141,000 after buying an additional 321 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Westamerica Bancorporation during the first quarter worth $113,000. Sei Investments Co. lifted its stake in shares of Westamerica Bancorporation by 21.7% during the first quarter. Sei Investments Co. now owns 121,436 shares of the financial services provider’s stock worth $5,936,000 after buying an additional 21,624 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Westamerica Bancorporation by 8.0% during the first quarter. Inspire Investing LLC now owns 7,329 shares of the financial services provider’s stock worth $358,000 after buying an additional 544 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

About Westamerica Bancorporation

(Get Free Report)

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.

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