West Bancorporation (NASDAQ:WTBA) Lifted to Hold at Zacks Investment Research

West Bancorporation (NASDAQ:WTBAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “WEST BANCORP has focused on providing community-oriented personal and commercial banking services. They provide full service to small and medium size businesses, individuals, schools, organizations and local government. West Bank is known for sticking to the basics in banking. They focus on traditional services like loans and deposit accounts for business and individuals. Unlike most banks, West Bank has held the line on service charge increases. “

Separately, StockNews.com initiated coverage on shares of West Bancorporation in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of WTBA opened at $26.41 on Thursday. The firm’s 50 day simple moving average is $27.94 and its 200 day simple moving average is $30.13. The company has a market capitalization of $437.22 million, a P/E ratio of 8.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.86 and a quick ratio of 0.86. West Bancorporation has a 1-year low of $24.37 and a 1-year high of $34.50.

West Bancorporation (NASDAQ:WTBAGet Rating) last announced its earnings results on Thursday, January 27th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04). The company had revenue of $26.95 million during the quarter, compared to analysts’ expectations of $27.10 million. West Bancorporation had a net margin of 42.40% and a return on equity of 19.97%. During the same period in the prior year, the business earned $0.52 earnings per share. On average, equities analysts anticipate that West Bancorporation will post 2.69 earnings per share for the current year.

In related news, EVP Bradley P. Peters purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were acquired at an average price of $28.45 per share, for a total transaction of $113,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.74% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. West Bancorporation Inc. bought a new stake in shares of West Bancorporation during the 4th quarter valued at $1,788,000. Allspring Global Investments Holdings LLC purchased a new position in shares of West Bancorporation in the 4th quarter worth about $627,000. Aptus Capital Advisors LLC raised its position in shares of West Bancorporation by 23.6% in the 4th quarter. Aptus Capital Advisors LLC now owns 92,511 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 17,640 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of West Bancorporation by 133.6% in the 4th quarter. Wells Fargo & Company MN now owns 26,782 shares of the financial services provider’s stock worth $833,000 after purchasing an additional 15,315 shares during the last quarter. Finally, City State Bank purchased a new position in shares of West Bancorporation in the 4th quarter worth about $381,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

About West Bancorporation (Get Rating)

West Bancorporation, Inc operates as the financial holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States. It accepts various deposit products, including checking, savings, and money market accounts, as well as time certificates of deposit.

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