Piper Sandler Issues Pessimistic Forecast for West Bancorporation (NASDAQ:WTBA) Stock Price

Key Points

• Piper Sandler has reduced its price target for West Bancorporation (NASDAQ:WTBA) from $21.50 to $20.50, maintaining a "neutral" rating on the stock.
• West Bancorporation's stock price is currently at $18.69, reflecting a 0.1% decline during midday trading.
• The company reported $0.47 EPS in its latest quarterly earnings, surpassing estimates, but revenue fell short of analyst expectations.

West Bancorporation (NASDAQ:WTBA - Get Free Report) had its price target reduced by equities researchers at Piper Sandler from $21.50 to $20.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price suggests a potential upside of 9.68% from the stock's current price.

West Bancorporation Trading Down 0.1%

NASDAQ:WTBA traded down $0.01 during midday trading on Monday, reaching $18.69. 4,202 shares of the stock traded hands, compared to its average volume of 29,383. The stock has a market capitalization of $316.29 million, a P/E ratio of 10.99 and a beta of 0.89. West Bancorporation has a 12 month low of $17.33 and a 12 month high of $24.85. The company has a fifty day moving average of $19.63 and a 200 day moving average of $20.24. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.96 and a current ratio of 0.96.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $23.83 million during the quarter, compared to analyst estimates of $24.20 million. West Bancorporation had a net margin of 14.40% and a return on equity of 12.26%. On average, research analysts predict that West Bancorporation will post 1.65 EPS for the current year.

Institutional Trading of West Bancorporation

A number of institutional investors have recently made changes to their positions in WTBA. First Trust Advisors LP purchased a new position in shares of West Bancorporation in the fourth quarter worth approximately $226,000. Northwestern Mutual Wealth Management Co. lifted its holdings in West Bancorporation by 5.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,171 shares of the financial services provider's stock valued at $223,000 after purchasing an additional 538 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in West Bancorporation by 20.4% during the fourth quarter. Wells Fargo & Company MN now owns 12,157 shares of the financial services provider's stock valued at $263,000 after purchasing an additional 2,062 shares in the last quarter. GAMMA Investing LLC lifted its holdings in West Bancorporation by 4,644.5% during the first quarter. GAMMA Investing LLC now owns 13,759 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 13,469 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in West Bancorporation during the fourth quarter valued at approximately $356,000. Hedge funds and other institutional investors own 44.30% of the company's stock.

About West Bancorporation

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

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