Westamerica Bancorporation (NASDAQ:WABC) Short Interest Update

Westamerica Bancorporation (NASDAQ:WABC) was the recipient of a significant decrease in short interest in 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. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 112,300 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kimelman & Baird LLC acquired a new stake in Westamerica Bancorporation in the 2nd quarter valued at about $36,000. EntryPoint Capital LLC acquired a new stake in shares of Westamerica Bancorporation in the first quarter valued at approximately $75,000. GAMMA Investing LLC increased its holdings in shares of Westamerica Bancorporation by 13.8% in the second quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 226 shares in the last quarter. SG Americas Securities LLC bought a new position in Westamerica Bancorporation in the 1st quarter worth approximately $113,000. Finally, SageView Advisory Group LLC acquired a new position in Westamerica Bancorporation during the 1st quarter worth $140,000. 81.89% of the stock is owned by institutional investors.

Westamerica Bancorporation Price Performance

Shares of Westamerica Bancorporation stock opened at $56.86 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 10.36 and a beta of 0.54. The firm’s 50-day moving average price is $51.05 and its two-hundred day moving average price is $50.18. The company has a current ratio of 0.26, a quick ratio of 0.25 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 $59.33.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.27 EPS for the quarter, hitting analysts’ consensus estimates of $1.27. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. The business had revenue of $74.07 million for the quarter, compared to analyst estimates of $72.74 million. On average, equities analysts predict that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.