West Bancorporation (NASDAQ:WTBA) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of West Bancorporation, Inc. (NASDAQ:WTBA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.68 and traded as high as $28.19. West Bancorporation shares last traded at $28.05, with a volume of 57,648 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WTBA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of West Bancorporation in a research note on Friday, June 5th. Wall Street Zen cut West Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday. Hovde Group upped their price target on West Bancorporation from $25.50 to $28.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Piper Sandler boosted their price objective on West Bancorporation from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.00.

West Bancorporation Stock Performance

The company has a market capitalization of $478.08 million, a P/E ratio of 12.58 and a beta of 0.72. The business’s fifty day simple moving average is $25.83 and its 200-day simple moving average is $24.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.00 and a current ratio of 1.00.

West Bancorporation (NASDAQ:WTBA) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $28.22 million for the quarter, compared to the consensus estimate of $28.15 million. West Bancorporation had a return on equity of 15.48% and a net margin of 18.75%.During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts anticipate that West Bancorporation, Inc. will post 2.59 earnings per share for the current fiscal year.

West Bancorporation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 5th. This is a positive change from West Bancorporation’s previous quarterly dividend of $0.25. West Bancorporation’s payout ratio is 46.64%.

Institutional Investors Weigh In On West Bancorporation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTBA. Russell Investments Group Ltd. increased its position in shares of West Bancorporation by 4,593.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,455 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,424 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of West Bancorporation by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 660 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of West Bancorporation by 37.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 455 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in West Bancorporation by 662.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,784 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 3,288 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in West Bancorporation in the 4th quarter worth about $126,000. 44.30% of the stock is currently owned by hedge funds and other institutional investors.

About West Bancorporation

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.