It Seems Westamerica Bancorporation (NASDAQ:WABC) Will Go Down. Just Reported More Shorted Shares

June 14, 2018 - By Kurt Siggers

Investors sentiment decreased to 1.06 in Q1 2018. Its down 0.27, from 1.33 in 2017Q4. It dropped, as 6 investors sold Westamerica Bancorporation shares while 42 reduced holdings. 10 funds opened positions while 41 raised stakes. 22.39 million shares or 0.20% more from 22.35 million shares in 2017Q4 were reported.
Palisade Capital Lc Nj has 0.73% invested in Westamerica Bancorporation (NASDAQ:WABC) for 371,104 shares. Victory Capital Mngmt Inc has 402,033 shares. 24,100 were accumulated by Credit Suisse Ag. Price T Rowe Inc Md holds 2.33M shares or 0.02% of its portfolio. Glenmede Trust Na invested 0% of its portfolio in Westamerica Bancorporation (NASDAQ:WABC). Services Automobile Association owns 4,025 shares. Pub Sector Pension Investment Board reported 17,204 shares. Advisory Service Ntwk Ltd Llc invested in 0.01% or 1,273 shares. Moreover, Huntington Commercial Bank has 0% invested in Westamerica Bancorporation (NASDAQ:WABC) for 1,839 shares. Northern Trust accumulated 428,701 shares. 4,600 are held by Stewart & Patten Llc. Tudor Et Al owns 9,544 shares for 0.02% of their portfolio. 5,889 are held by Teacher Retirement Systems Of Texas. Amalgamated Financial Bank accumulated 0.01% or 3,620 shares. State Of Alaska Department Of Revenue holds 8,571 shares or 0.01% of its portfolio.

Since January 23, 2018, it had 0 buys, and 7 insider sales for $5.55 million activity. 5,824 shares were sold by THORSON JOHN A, worth $329,206 on Friday, May 4. SYLVESTER EDWARD B sold 5,000 shares worth $304,669. 47,200 shares were sold by SCHNECK JAMES J, worth $2.78M on Friday, February 2.

The stock of Westamerica Bancorporation (NASDAQ:WABC) registered an increase of 1.15% in short interest. WABC’s total short interest was 3.10 million shares in June as published by FINRA. Its up 1.15% from 3.06 million shares, reported previously. With 121,900 shares average volume, it will take short sellers 25 days to cover their WABC’s short positions. The short interest to Westamerica Bancorporation’s float is 12.24%.

The stock increased 0.15% or $0.09 during the last trading session, reaching $58.91. About 51,424 shares traded. Westamerica Bancorporation (NASDAQ:WABC) has risen 7.92% since June 14, 2017 and is uptrending. It has underperformed by 4.65% the S&P500.

Westamerica Bancorporation operates as a bank holding firm for Westamerica Bank that provides various banking services and products to individual and commercial clients in Northern and Central California. The company has market cap of $1.57 billion. The firm accepts various deposit products, including retail savings and checking accounts; interest and non-interest bearing demand deposits; money market checking deposits; and certificates of deposit, as well as invests in securities. It has a 29.72 P/E ratio. The Company’s loan portfolio includes commercial, commercial real estate, real estate construction, residential real estate, and consumer installment loans, as well as other loans primarily comprising indirect automobile loans.

Westamerica Bancorporation (NASDAQ:WABC) Ratings Coverage

Among 3 analysts covering Westamerica Bancorporation (NASDAQ:WABC), 0 have Buy rating, 2 Sell and 1 Hold. Therefore 0 are positive. Westamerica Bancorporation had 9 analyst reports since December 18, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Monday, February 26 by Keefe Bruyette & Woods. The company was maintained on Thursday, January 18 by Sandler O’Neill. Keefe Bruyette & Woods maintained the shares of WABC in report on Thursday, January 18 with “Hold” rating. BMO Capital Markets maintained the stock with “Sell” rating in Monday, December 18 report. BMO Capital Markets maintained Westamerica Bancorporation (NASDAQ:WABC) on Friday, March 23 with “Sell” rating. Sandler O’Neill maintained Westamerica Bancorporation (NASDAQ:WABC) rating on Thursday, March 29. Sandler O’Neill has “Sell” rating and $5600 target. Sandler O’Neill maintained Westamerica Bancorporation (NASDAQ:WABC) rating on Thursday, January 4. Sandler O’Neill has “Sell” rating and $54.0 target. The stock of Westamerica Bancorporation (NASDAQ:WABC) earned “Hold” rating by Keefe Bruyette & Woods on Thursday, December 21. The stock has “Sell” rating by BMO Capital Markets on Tuesday, April 24.

Another recent and important Westamerica Bancorporation (NASDAQ:WABC) news was published by Globenewswire.com which published an article titled: “Market Trends Toward New Normal in inTest, Westamerica, Simmons First National, Dova Pharmaceuticals …” on May 25, 2018.

Westamerica Bancorporation (NASDAQ:WABC) Institutional Positions Chart

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