Westamerica Bancorporation (NASDAQ:WABC) Short Interest Down 17.5% in January

Westamerica Bancorporation (NASDAQ:WABC) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 396,990 shares, a decline of 17.5% from the December 31st total of 481,160 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily volume of 145,118 shares, the short-interest ratio is currently 2.7 days. Based on an average daily volume of 145,118 shares, the short-interest ratio is currently 2.7 days. Approximately 1.7% of the company’s stock are short sold.

Hedge Funds Weigh In On Westamerica Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in Westamerica Bancorporation by 354.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 854 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 666 shares in the last quarter. MAI Capital Management increased its holdings in shares of Westamerica Bancorporation by 126.1% during the second quarter. MAI Capital Management now owns 866 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 483 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Westamerica Bancorporation by 201.1% during the third quarter. Hantz Financial Services Inc. now owns 840 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 561 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Westamerica Bancorporation by 10,335.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Westamerica Bancorporation in the first quarter worth about $96,000. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Stock Up 1.1%

NASDAQ:WABC opened at $51.15 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.29 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $49.13 and a 200-day moving average of $48.68. The firm has a market capitalization of $1.28 billion, a PE ratio of 11.32 and a beta of 0.62. Westamerica Bancorporation has a 52 week low of $42.00 and a 52 week high of $52.84.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Westamerica Bancorporation had a return on equity of 12.52% and a net margin of 42.75%.The business had revenue of $66.05 million during the quarter, compared to analyst estimates of $61.90 million. Analysts predict that Westamerica Bancorporation will post 4.35 EPS for the current year.

Westamerica Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, February 2nd. Westamerica Bancorporation’s dividend payout ratio (DPR) is 40.71%.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on WABC shares. Wall Street Zen upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Westamerica Bancorporation in a research report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their price target on Westamerica Bancorporation from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Westamerica Bancorporation has a consensus rating of “Hold” and an average price target of $52.50.

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.