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

Zacks Investment Research upgraded shares of West Bancorporation (NASDAQ:WTBAGet Rating) from a sell rating to a hold rating in a research report report published on Thursday morning, 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 assumed coverage on West Bancorporation in a research note on Thursday, March 31st. They set a hold rating for the company.

NASDAQ:WTBA traded down $0.10 during midday trading on Thursday, hitting $24.88. The company’s stock had a trading volume of 5 shares, compared to its average volume of 23,374. West Bancorporation has a fifty-two week low of $24.33 and a fifty-two week high of $34.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $413.75 million, a P/E ratio of 8.22 and a beta of 0.95. The firm’s 50 day moving average is $26.99 and its 200-day moving average is $29.71.

West Bancorporation (NASDAQ:WTBAGet Rating) last released its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.70 by $0.08. West Bancorporation had a net margin of 43.35% and a return on equity of 20.50%. During the same period in the prior year, the company posted $0.70 EPS. As a group, analysts forecast that West Bancorporation will post 2.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Tuesday, May 10th. West Bancorporation’s dividend payout ratio (DPR) is 32.89%.

In other news, EVP Bradley P. Peters purchased 4,000 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were purchased at an average cost of $28.45 per share, with a total value of $113,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.74% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of West Bancorporation by 156.3% during the 4th quarter. Gilbert & Cook Inc. now owns 19,206 shares of the financial services provider’s stock valued at $597,000 after buying an additional 11,711 shares in the last quarter. Citigroup Inc. grew its position in shares of West Bancorporation by 128.4% in the third quarter. Citigroup Inc. now owns 1,834 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,031 shares during the period. Geode Capital Management LLC grew its position in shares of West Bancorporation by 1.9% in the third quarter. Geode Capital Management LLC now owns 272,265 shares of the financial services provider’s stock valued at $8,176,000 after purchasing an additional 5,101 shares during the period. US Bancorp DE increased its stake in shares of West Bancorporation by 29.3% during the third quarter. US Bancorp DE now owns 44,155 shares of the financial services provider’s stock worth $1,326,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of West Bancorporation by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 285,251 shares of the financial services provider’s stock worth $8,863,000 after purchasing an additional 7,399 shares during the last quarter. Institutional investors and hedge funds own 39.75% 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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