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 - Free Report) had its price objective cut by Piper Sandler from $21.50 to $20.50 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

West Bancorporation Stock Performance

NASDAQ:WTBA traded down $0.24 during mid-day trading on Monday, reaching $17.99. The company's stock had a trading volume of 57,408 shares, compared to its average volume of 30,112. West Bancorporation has a 12-month low of $17.33 and a 12-month high of $24.85. The firm's fifty day moving average price is $19.55 and its two-hundred day moving average price is $20.21. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.62. The stock has a market cap of $304.77 million, a P/E ratio of 10.58 and a beta of 0.89.

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

West Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 5.6%. West Bancorporation's dividend payout ratio is presently 58.82%.

Institutional Investors Weigh In On West Bancorporation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of West Bancorporation by 4,644.5% during the 1st quarter. GAMMA Investing LLC now owns 13,759 shares of the financial services provider's stock valued at $274,000 after acquiring an additional 13,469 shares during the period. Bank of America Corp DE grew its stake in shares of West Bancorporation by 40.5% during the 4th quarter. Bank of America Corp DE now owns 21,599 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 6,228 shares during the period. JPMorgan Chase & Co. grew its stake in shares of West Bancorporation by 121.4% during the 4th quarter. JPMorgan Chase & Co. now owns 57,439 shares of the financial services provider's stock valued at $1,244,000 after acquiring an additional 31,493 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of West Bancorporation by 330.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 97,457 shares of the financial services provider's stock valued at $1,943,000 after acquiring an additional 74,818 shares during the period. Finally, Aptus Capital Advisors LLC grew its stake in shares of West Bancorporation by 22.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 282,404 shares of the financial services provider's stock valued at $6,114,000 after acquiring an additional 51,775 shares during the period. Hedge funds and other institutional investors own 44.30% of the company's stock.

West Bancorporation Company Profile

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.