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

Westamerica Bancorporation (NASDAQ:WABC) saw a significant 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. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 113,500 shares, the days-to-cover ratio is presently 1.6 days.

Westamerica Bancorporation Stock Performance

WABC traded down $0.54 during midday trading on Friday, reaching $52.51. The company had a trading volume of 85,520 shares, compared to its average volume of 128,313. Westamerica Bancorporation has a 1 year low of $43.82 and a 1 year 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 company has a market cap of $1.40 billion, a P/E ratio of 9.56 and a beta of 0.57. The business has a 50-day moving average of $54.89 and a two-hundred day moving average of $51.68.

Westamerica Bancorporation (NASDAQ:WABC) last released 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 analysts’ expectations of $72.74 million. Westamerica Bancorporation had a net margin of 45.73% and a return on equity of 17.67%. As a group, equities research analysts predict that Westamerica Bancorporation will post 5.17 earnings per share for the current fiscal year.

Westamerica Bancorporation Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Monday, November 4th. Westamerica Bancorporation’s dividend payout ratio (DPR) is presently 32.06%.

Hedge Funds Weigh In On Westamerica Bancorporation

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its position in shares of Westamerica Bancorporation by 11.7% during the second quarter. American Century Companies Inc. now owns 1,904,399 shares of the financial services provider’s stock valued at $92,421,000 after purchasing an additional 199,721 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Westamerica Bancorporation by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 861,398 shares of the financial services provider’s stock valued at $41,801,000 after buying an additional 41,841 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Westamerica Bancorporation by 7.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,297 shares of the financial services provider’s stock worth $16,521,000 after acquiring an additional 22,902 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Westamerica Bancorporation by 10.6% during the 2nd quarter. Sei Investments Co. now owns 134,324 shares of the financial services provider’s stock worth $6,519,000 after acquiring an additional 12,888 shares in the last quarter. Hedge funds and other institutional investors own 81.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of 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.