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

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) was the target of a significant growth in short interest in 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 trading volume of 117,100 shares, the short-interest ratio is currently 1.8 days. Currently, 0.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com raised Westamerica Bancorporation from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th.

Westamerica Bancorporation Price Performance

Shares of NASDAQ:WABC traded up $1.16 during mid-day trading on Tuesday, reaching $51.38. The stock had a trading volume of 104,598 shares, compared to its average volume of 114,668. The company has a market cap of $1.37 billion, a P/E ratio of 9.88 and a beta of 0.57. The business's 50 day moving average price is $53.20 and its 200 day moving average price is $52.16. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.15. Westamerica Bancorporation has a 1 year low of $43.82 and a 1 year high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.19 EPS for the quarter, hitting analysts' consensus estimates of $1.19. Westamerica Bancorporation had a net margin of 44.55% and a return on equity of 16.15%. During the same period in the previous year, the company posted $1.48 earnings per share. Research analysts expect that Westamerica Bancorporation will post 4.35 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, February 3rd. Westamerica Bancorporation's dividend payout ratio is presently 33.85%.

Hedge Funds Weigh In On Westamerica Bancorporation

A number of hedge funds have recently added to or reduced their stakes in WABC. Intech Investment Management LLC increased its holdings in Westamerica Bancorporation by 2.8% during the third quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider's stock valued at $347,000 after buying an additional 191 shares during the period. Martingale Asset Management L P raised its position in shares of Westamerica Bancorporation by 0.7% in the 3rd quarter. Martingale Asset Management L P now owns 27,008 shares of the financial services provider's stock worth $1,335,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Westamerica Bancorporation by 14.1% in the 4th quarter. GAMMA Investing LLC now owns 2,166 shares of the financial services provider's stock worth $114,000 after acquiring an additional 268 shares in the last quarter. KBC Group NV lifted its stake in shares of Westamerica Bancorporation by 71.4% during 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 during the last quarter. Finally, Inspire Investing LLC boosted its position in Westamerica Bancorporation by 15.8% during the third quarter. Inspire Investing LLC now owns 8,342 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 1,138 shares in the last quarter. 81.89% of the stock is currently owned by institutional investors.

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.