West Bancorporation (NASDAQ:WTBA) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of West Bancorporation (NASDAQ:WTBA) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of West Bancorporation in a research note on Monday, December 29th. Piper Sandler lifted their price objective on West Bancorporation from $20.50 to $24.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

West Bancorporation Price Performance

Shares of West Bancorporation stock opened at $25.68 on Monday. The firm has a market capitalization of $435.02 million, a PE ratio of 13.45 and a beta of 0.86. The business’s 50-day moving average price is $22.82 and its 200-day moving average price is $21.06. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.52. West Bancorporation has a 12 month low of $17.31 and a 12 month high of $25.88.

West Bancorporation (NASDAQ:WTBA) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. West Bancorporation had a net margin of 16.08% and a return on equity of 14.59%. The firm had revenue of $17.62 million for the quarter, compared to the consensus estimate of $26.70 million. Sell-side analysts forecast that West Bancorporation will post 1.65 EPS for the current fiscal year.

West Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, February 11th. West Bancorporation’s dividend payout ratio is currently 52.36%.

Insiders Place Their Bets

In other West Bancorporation news, Director George D. Milligan sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $21.71, for a total value of $217,100.00. Following the completion of the sale, the director directly owned 53,195 shares in the company, valued at $1,154,863.45. This trade represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Douglas R. Gulling sold 7,900 shares of West Bancorporation stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $21.75, for a total value of $171,825.00. Following the sale, the director directly owned 72,338 shares in the company, valued at approximately $1,573,351.50. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,726 shares of company stock worth $517,097. Insiders own 4.58% of the company’s stock.

Institutional Investors Weigh In On West Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of West Bancorporation by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 875,719 shares of the financial services provider’s stock valued at $17,795,000 after buying an additional 37,502 shares during the period. Aptus Capital Advisors LLC increased its position in West Bancorporation by 15.2% during the third quarter. Aptus Capital Advisors LLC now owns 402,664 shares of the financial services provider’s stock valued at $8,182,000 after acquiring an additional 53,182 shares during the last quarter. Rhino Investment Partners Inc bought a new position in West Bancorporation in the third quarter valued at about $1,918,000. Arrowstreet Capital Limited Partnership lifted its holdings in West Bancorporation by 14.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 58,655 shares of the financial services provider’s stock valued at $1,192,000 after acquiring an additional 7,428 shares during the period. Finally, Two Sigma Investments LP boosted its position in West Bancorporation by 102.5% in the third quarter. Two Sigma Investments LP now owns 39,200 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 19,846 shares during the last quarter. Hedge funds and other institutional investors own 44.30% of the company’s stock.

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.