Westamerica Bancorporation (NASDAQ:WABC) Short Interest Down 18.9% in December

Westamerica Bancorporation (NASDAQ:WABC) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 181,000 shares, a drop of 18.9% from the November 30th total of 223,300 shares. Based on an average daily volume of 113,500 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com upgraded Westamerica Bancorporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th.

Westamerica Bancorporation Trading Down 0.5 %

NASDAQ WABC opened at $52.26 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $54.89 and a 200 day moving average price of $51.72. The stock has a market capitalization of $1.39 billion, a P/E ratio of 9.52 and a beta of 0.57. Westamerica Bancorporation has a 52-week low of $43.82 and a 52-week high of $59.97.

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

Westamerica Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s payout ratio is currently 32.06%.

Hedge Funds Weigh In On Westamerica Bancorporation

A number of institutional investors have recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in shares of Westamerica Bancorporation in the second quarter valued at $36,000. Glenmede Trust Co. NA acquired a new position in shares of Westamerica Bancorporation during the 3rd quarter valued at about $238,000. CWM LLC lifted its holdings in shares of Westamerica Bancorporation by 43.9% during the 3rd quarter. CWM LLC now owns 5,250 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 1,601 shares during the period. Choreo LLC acquired a new stake in shares of Westamerica Bancorporation in the second quarter worth approximately $256,000. Finally, SAM Advisors LLC purchased a new stake in Westamerica Bancorporation in the third quarter valued at approximately $336,000. Institutional investors and hedge funds own 81.89% of the company’s stock.

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.