West Bancorporation (NASDAQ:WTBA) Reaches New 12-Month High - What's Next?

Key Points

• West Bancorporation shares reached a new 52-week high of $30.50, closing well above the prior $28.88 level. The stock’s consensus rating remains “Hold,” with an average analyst price target of $29.00.
• The company exceeded quarterly expectations, reporting earnings per share of $0.64 versus the $0.63 consensus estimate and revenue of $28.22 million. Analysts expect full-year EPS of approximately $2.59.
• West Bancorporation raised its quarterly dividend from $0.25 to $0.26 per share, representing a $1.04 annualized dividend and a 3.5% yield; institutional investors own 44.3% of the company’s stock.

West Bancorporation, Inc. (NASDAQ:WTBA - Get Free Report) hit a new 52-week high on Friday. The company traded as high as $30.50 and last traded at $29.8650, with a volume of 15997 shares changing hands. The stock had previously closed at $28.88.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WTBA shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of West Bancorporation in a research note on Wednesday, September 2nd. Piper Sandler increased their target price on shares of West Bancorporation from $27.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Wall Street Zen lowered shares of West Bancorporation from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Hovde Group raised their target price on shares of West Bancorporation from $25.50 to $28.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, West Bancorporation presently has a consensus rating of "Hold" and an average target price of $29.00.

West Bancorporation Stock Performance

The firm's 50 day simple moving average is $28.77 and its 200-day simple moving average is $26.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $509.19 million, a price-to-earnings ratio of 13.42 and a beta of 0.71.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. West Bancorporation had a return on equity of 15.48% and a net margin of 18.75%.The business had revenue of $28.22 million during the quarter, compared to analysts' expectations of $28.15 million. During the same quarter last year, the firm posted $0.47 earnings per share. Analysts expect that West Bancorporation, Inc. will post 2.59 EPS for the current year.

West Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.04 annualized dividend and a yield of 3.5%. This is an increase from West Bancorporation's previous quarterly dividend of $0.25. West Bancorporation's dividend payout ratio (DPR) is currently 46.64%.

Hedge Funds Weigh In On West Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 purchasing an additional 448 shares during the last quarter. 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 buying an additional 28,087 shares during the last quarter. Quantinno Capital Management LP increased its position in West Bancorporation by 28.8% during the first 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 during the last quarter. Independent Wealth Network Inc. raised its holdings in West Bancorporation by 42.0% during the first quarter. Independent Wealth Network Inc. now owns 14,698 shares of the financial services provider's stock valued at $350,000 after buying an additional 4,345 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its holdings in West Bancorporation by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 404,427 shares of the financial services provider's stock valued at $8,974,000 after buying an additional 1,763 shares in the last quarter. Hedge funds and other institutional investors own 44.30% of the company's stock.

West Bancorporation Company Profile

West Bancorporation, Inc is a bank holding company headquartered in West Des Moines, Iowa. Its principal subsidiary, West Bank, is a community bank that provides financial services to businesses, individuals and institutions.

West Bank offers commercial and industrial lending, commercial real estate loans, agricultural financing, residential mortgage loans and consumer credit. 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, trust services and investment management.

The company primarily serves customers in Iowa, including the Des Moines metropolitan area and other communities in central and eastern Iowa, as well as selected markets in neighboring states.

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