Westamerica Bancorporation (NASDAQ:WABC) Short Interest Up 11.5% in November

Westamerica Bancorporation (NASDAQ:WABC – Get Rating) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 630,200 shares, an increase of 11.5% from the November 15th total of 565,200 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average trading volume of 139,600 shares, the short-interest ratio is presently 4.5 days.

Analysts Set New Price Targets

WABC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Westamerica Bancorporation in a report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler decreased their price target on Westamerica Bancorporation to $58.00 in a report on Friday, September 30th. Finally, Maxim Group increased their price target on Westamerica Bancorporation from $75.00 to $80.00 in a report on Monday, October 24th.

Hedge Funds Weigh In On Westamerica Bancorporation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in Westamerica Bancorporation in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its position in Westamerica Bancorporation by 2,776.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 489 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 472 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Westamerica Bancorporation in the 2nd quarter valued at about $29,000. Bessemer Group Inc. bought a new position in Westamerica Bancorporation in the 3rd quarter valued at about $44,000. Finally, Captrust Financial Advisors lifted its position in Westamerica Bancorporation by 123.9% in the 1st quarter. Captrust Financial Advisors now owns 1,547 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 856 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Westamerica Bancorporation Price Performance

WABC stock opened at $57.22 on Thursday. The stock has a market capitalization of $1.54 billion, a PE ratio of 14.75 and a beta of 0.66. The company’s 50-day moving average is $59.27 and its 200-day moving average is $57.87. Westamerica Bancorporation has a 1 year low of $52.04 and a 1 year high of $63.86.

Westamerica Bancorporation (NASDAQ:WABC – Get Rating) last released its quarterly earnings data on Thursday, October 20th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.27. The company had revenue of $72.13 million for the quarter, compared to analysts’ expectations of $62.09 million. Westamerica Bancorporation had a net margin of 43.31% and a return on equity of 15.56%. On average, analysts anticipate that Westamerica Bancorporation will post 4.54 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $0.42 per share. The ex-dividend date was Friday, November 4th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.94%. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 43.30%.

Westamerica Bancorporation Company Profile

(Get Rating)

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.