West Bancorporation (NASDAQ:WTBA) Announces Earnings Results

West Bancorporation (NASDAQ:WTBAGet Free Report) posted its earnings results on Thursday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01, FiscalAI reports. West Bancorporation had a net margin of 17.30% and a return on equity of 14.88%. The firm had revenue of $28.22 million during the quarter, compared to analyst estimates of $28.15 million. During the same period in the previous year, the business posted $0.47 EPS.

West Bancorporation Price Performance

NASDAQ:WTBA traded up $0.04 during trading hours on Thursday, reaching $26.66. 15,883 shares of the company’s stock were exchanged, compared to its average volume of 49,089. The company has a market capitalization of $454.02 million, a P/E ratio of 12.94 and a beta of 0.72. West Bancorporation has a 12 month low of $17.31 and a 12 month high of $27.87. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.39. The business’s 50-day simple moving average is $25.22 and its two-hundred day simple moving average is $24.42.

Institutional Investors Weigh In On West Bancorporation

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in shares of West Bancorporation by 27.9% during the 4th quarter. Invesco Ltd. now owns 14,270 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 3,109 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of West Bancorporation during the fourth quarter valued at $301,000. Empowered Funds LLC purchased a new stake in shares of West Bancorporation during the fourth quarter valued at $126,000. Bridgeway Capital Management LLC boosted its position in shares of West Bancorporation by 4.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 15,666 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 642 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of West Bancorporation by 20.8% in the 4th quarter. AQR Capital Management LLC now owns 27,743 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 4,784 shares during the period. Institutional investors and hedge funds own 44.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research downgraded West Bancorporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Wall Street Zen raised West Bancorporation from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Piper Sandler boosted their price target on West Bancorporation from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Hovde Group began coverage on West Bancorporation in a research note on Monday, April 6th. They issued a “market perform” rating and a $25.50 price target for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of West Bancorporation in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.25.

Read Our Latest Research Report on WTBA

About West Bancorporation

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West Bancorporation, Inc is the bank holding company for West Town Bank and Trust, a full-service community bank headquartered in Chicago, Illinois. Through its subsidiary, the company offers a comprehensive suite of commercial and consumer banking products, including deposit accounts, residential and commercial mortgages, business loans and treasury management services. West Bancorporation focuses on delivering personalized financial solutions to small- and medium-sized businesses, real estate developers and individual customers within its urban market.

Since launching operations in 2006, West Town Bank and Trust has steadily expanded its presence across the Chicago metropolitan area.

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Earnings History for West Bancorporation (NASDAQ:WTBA)

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