West Bancorporation (NASDAQ:WTBA) Sets New 52-Week High – Still a Buy?

West Bancorporation, Inc. (NASDAQ:WTBA)’s stock price reached a new 52-week high during trading on Monday. The company traded as high as $31.08 and last traded at $31.01, with a volume of 12,926 shares traded. The stock had previously closed at $29.91.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WTBA. Weiss Ratings raised shares of West Bancorporation from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Piper Sandler lifted their price objective on West Bancorporation from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Hovde Group boosted their target price on West Bancorporation from $25.50 to $28.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Finally, Wall Street Zen lowered shares of West Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

West Bancorporation Trading Up 4.2%

The business has a 50 day moving average price of $29.14 and a 200 day moving average price of $26.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $531.11 million, a P/E ratio of 13.25 and a beta of 0.71.

West Bancorporation (NASDAQ:WTBA) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. West Bancorporation had a return on equity of 16.09% and a net margin of 19.83%. The company had revenue of $29.20 million during the quarter, compared to the consensus estimate of $28.95 million. Analysts anticipate that West Bancorporation, Inc. will post 2.55 EPS for the current year.

West Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, November 10th. West Bancorporation’s dividend payout ratio is 44.26%.

Hedge Funds Weigh In On West Bancorporation

A number of large investors have recently made changes to their positions in the company. Squarepoint Ops LLC increased its position in West Bancorporation by 332.0% during the second quarter. Squarepoint Ops LLC now owns 36,548 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 28,087 shares during the period. Quantinno Capital Management LP raised its holdings in shares of West Bancorporation by 28.8% during the 1st quarter. Quantinno Capital Management LP now owns 34,480 shares of the financial services provider’s stock worth $820,000 after buying an additional 7,702 shares in the last quarter. Independent Wealth Network Inc. lifted its holdings in shares of West Bancorporation by 3.1% in the third quarter. Independent Wealth Network Inc. now owns 15,260 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 465 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of West Bancorporation by 4.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,186 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 448 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of West Bancorporation by 83.5% during the third quarter. State of Alaska Department of Revenue now owns 1,411 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 642 shares in the last quarter. Institutional investors own 44.30% of the company’s stock.

West Bancorporation Company Profile

West Bancorporation, Inc (NASDAQ: WTBA) is a bank holding company headquartered in West Des Moines, Iowa. It operates primarily through West Bank, a community banking institution that provides financial services to businesses, individuals and nonprofit organizations.

West Bank offers commercial and consumer lending, including commercial real estate, business, residential real estate and personal loans. Its deposit products include checking, savings, money market and certificate of deposit accounts, while additional services include treasury management, online and mobile banking, cash management and trust or wealth management services.

Founded in 1893, West Bank serves communities primarily in central and eastern Iowa, with a presence in the Des Moines metropolitan area and other Iowa markets.