West Bancorporation (NASDAQ:WTBA) Cut to “Hold” at Zacks Research

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

A number of other equities research analysts also recently weighed in on WTBA. Piper Sandler raised their price target on shares of West Bancorporation from $20.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of West Bancorporation in a research note on Monday, December 22nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

West Bancorporation Price Performance

NASDAQ:WTBA opened at $22.54 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.97 and a quick ratio of 0.97. West Bancorporation has a one year low of $17.31 and a one year high of $24.27. The company has a market cap of $381.83 million, a P/E ratio of 11.86 and a beta of 0.84. The firm’s fifty day moving average price is $22.05 and its two-hundred day moving average price is $20.49.

West Bancorporation (NASDAQ:WTBA) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.08. West Bancorporation had a return on equity of 13.40% and a net margin of 16.04%.The business had revenue of $25.07 million during the quarter, compared to the consensus estimate of $24.20 million. Equities analysts expect that West Bancorporation will post 1.65 earnings per share for the current year.

West Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Wednesday, November 5th. West Bancorporation’s dividend payout ratio (DPR) is 52.63%.

Insider Activity at West Bancorporation

In other news, Director George D. Milligan sold 10,000 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $21.71, for a total transaction of $217,100.00. Following the completion of the transaction, the director owned 53,195 shares of the company’s stock, valued at approximately $1,154,863.45. This trade represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas R. Gulling sold 7,900 shares of West Bancorporation stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $21.75, for a total transaction of $171,825.00. Following the transaction, the director owned 72,338 shares in the company, valued at approximately $1,573,351.50. This trade represents a 9.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,726 shares of company stock worth $517,097. 4.58% of the stock is owned by corporate insiders.

Institutional Trading of West Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in West Bancorporation by 10.9% during the 3rd quarter. Alliancebernstein L.P. now owns 20,290 shares of the financial services provider’s stock worth $412,000 after buying an additional 2,000 shares during the period. Two Sigma Investments LP raised its position in shares of West Bancorporation by 102.5% during the third quarter. Two Sigma Investments LP now owns 39,200 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 19,846 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of West Bancorporation in the third quarter worth approximately $305,000. Rhino Investment Partners Inc bought a new stake in West Bancorporation in the third quarter valued at approximately $1,918,000. Finally, Arrowstreet Capital Limited Partnership increased its position in West Bancorporation by 14.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 58,655 shares of the financial services provider’s stock valued at $1,192,000 after purchasing an additional 7,428 shares during the period. 44.30% of the stock is currently owned by institutional investors and hedge funds.

West Bancorporation Company Profile

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.