Short Interest in Westamerica Bancorporation (NASDAQ:WABC) Expands By 19.2%

Westamerica Bancorporation (NASDAQ:WABC) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 328,600 shares, an increase of 19.2% from the August 15th total of 275,600 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 122,600 shares, the days-to-cover ratio is currently 2.7 days.

Westamerica Bancorporation Stock Up 1.9 %

Shares of WABC stock opened at $49.98 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.44 and a beta of 0.55. Westamerica Bancorporation has a 12-month low of $41.89 and a 12-month high of $58.49. The firm has a fifty day moving average of $51.26 and a 200-day moving average of $48.94. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. The firm had revenue of $79.57 million for the quarter, compared to the consensus estimate of $74.28 million. Westamerica Bancorporation had a return on equity of 20.17% and a net margin of 47.12%. As a group, equities research analysts predict that Westamerica Bancorporation will post 5.2 earnings per share for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, August 5th. Westamerica Bancorporation’s dividend payout ratio is presently 29.73%.

Analyst Ratings Changes

WABC has been the topic of several analyst reports. Piper Sandler increased their target price on shares of Westamerica Bancorporation from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Maxim Group downgraded Westamerica Bancorporation from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Westamerica Bancorporation presently has an average rating of “Hold” and a consensus price target of $57.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WABC. Kimelman & Baird LLC bought a new stake in shares of Westamerica Bancorporation during the second quarter worth approximately $36,000. EntryPoint Capital LLC acquired a new position in Westamerica Bancorporation in the 1st quarter valued at $75,000. GAMMA Investing LLC increased its position in Westamerica Bancorporation by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,862 shares of the financial services provider’s stock worth $90,000 after buying an additional 226 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Westamerica Bancorporation during the first quarter worth $113,000. Finally, SageView Advisory Group LLC bought a new stake in shares of Westamerica Bancorporation in the first quarter valued at about $140,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

About Westamerica Bancorporation

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.