Westamerica Bancorporation (NASDAQ:WABC) Short Interest Up 20.7% in November

Westamerica Bancorporation (NASDAQ:WABC) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 223,300 shares, an increase of 20.7% from the November 15th total of 185,000 shares. Based on an average daily volume of 114,000 shares, the short-interest ratio is presently 2.0 days. Currently, 0.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Westamerica Bancorporation

Several institutional investors and hedge funds have recently modified their holdings of WABC. Intech Investment Management LLC increased its stake in Westamerica Bancorporation by 2.8% during the 3rd quarter. Intech Investment Management LLC now owns 7,024 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 191 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Westamerica Bancorporation by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 200 shares during the period. Martingale Asset Management L P increased its position in shares of Westamerica Bancorporation by 0.7% in the third quarter. Martingale Asset Management L P now owns 27,008 shares of the financial services provider’s stock worth $1,335,000 after purchasing an additional 200 shares during the period. Algert Global LLC raised its stake in Westamerica Bancorporation by 0.5% in the second quarter. Algert Global LLC now owns 64,365 shares of the financial services provider’s stock valued at $3,124,000 after purchasing an additional 304 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Westamerica Bancorporation by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 17,948 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 318 shares during the period. 81.89% of the stock is currently owned by institutional investors and hedge funds.

Westamerica Bancorporation Price Performance

Shares of WABC opened at $55.92 on Monday. The firm has a market capitalization of $1.49 billion, a PE ratio of 10.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.26 and a quick ratio of 0.26. The company’s 50-day moving average is $54.16 and its 200-day moving average is $51.36. Westamerica Bancorporation has a fifty-two week low of $43.82 and a fifty-two week high of $59.97.

Westamerica Bancorporation (NASDAQ:WABC) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.27. The company had revenue of $74.07 million during the quarter, compared to analysts’ expectations of $72.74 million. Westamerica Bancorporation had a return on equity of 17.67% and a net margin of 45.73%. Equities analysts forecast that Westamerica Bancorporation will post 5.17 EPS for the current year.

Westamerica Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio is currently 32.06%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th.

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.