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

Westamerica Bancorporation (NASDAQ:WABC) saw a large drop in short interest in 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 trading volume, of 113,500 shares, the short-interest ratio is currently 1.6 days. Approximately 0.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Westamerica Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Westamerica Bancorporation by 68.0% during the third quarter. JPMorgan Chase & Co. now owns 81,459 shares of the financial services provider’s stock valued at $4,026,000 after purchasing an additional 32,981 shares during the last quarter. Geode Capital Management LLC raised its stake in Westamerica Bancorporation by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 735,439 shares of the financial services provider’s stock valued at $36,352,000 after buying an additional 28,902 shares during the last quarter. Barclays PLC lifted its holdings in shares of Westamerica Bancorporation by 103.8% during the 3rd quarter. Barclays PLC now owns 52,755 shares of the financial services provider’s stock valued at $2,606,000 after buying an additional 26,871 shares during the period. Jane Street Group LLC boosted its stake in shares of Westamerica Bancorporation by 20.6% in the 3rd quarter. Jane Street Group LLC now owns 42,717 shares of the financial services provider’s stock worth $2,111,000 after buying an additional 7,285 shares during the last quarter. Finally, Centiva Capital LP bought a new stake in shares of Westamerica Bancorporation in the third quarter worth $436,000. Institutional investors own 81.89% of the company’s stock.

Westamerica Bancorporation Stock Down 1.0 %

Westamerica Bancorporation stock traded down $0.54 during trading hours on Friday, hitting $52.51. The stock had a trading volume of 85,520 shares, compared to its average volume of 128,313. The stock’s 50-day moving average price is $54.89 and its 200-day moving average price is $51.68. Westamerica Bancorporation has a 12-month low of $43.82 and a 12-month high of $59.97. 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 stock has a market capitalization of $1.40 billion, a P/E ratio of 9.56 and a beta of 0.57.

Westamerica Bancorporation (NASDAQ:WABC) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.27. The business had revenue of $74.07 million for 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 research analysts anticipate that Westamerica Bancorporation will post 5.17 EPS for the current fiscal year.

Westamerica Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.76 annualized dividend and a yield of 3.35%. Westamerica Bancorporation’s payout ratio is 32.06%.

Analysts Set New Price Targets

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

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.