West Bancorporation (NASDAQ:WTBA) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• West Bancorporation shares moved above their 200-day moving average, reaching $28.58 before closing at $28.25, compared with the $25.41 long-term average.
• Analysts maintain a consensus “Hold” rating with an average price target of $29.00; recent targets range from $28 to $30.
• The company exceeded quarterly earnings expectations with $0.64 EPS versus $0.63 expected and raised its quarterly dividend to $0.26 per share, implying a 3.7% annualized yield.

West Bancorporation, Inc. (NASDAQ:WTBA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.41 and traded as high as $28.58. West Bancorporation shares last traded at $28.25, with a volume of 42,269 shares changing hands.

Wall Street Analysts Forecast Growth

WTBA has been the subject of a number of research analyst reports. Hovde Group lifted their price target on West Bancorporation from $25.50 to $28.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Piper Sandler upped their price objective on shares of West Bancorporation from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of West Bancorporation in a research note on Friday, June 5th. Finally, Wall Street Zen lowered shares of West Bancorporation from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.00.

West Bancorporation Trading Down 0.8%

The firm has a market cap of $481.38 million, a P/E ratio of 12.67 and a beta of 0.71. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50 day moving average of $27.67 and a 200 day moving average of $25.41.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $28.15 million. During the same quarter last year, the business posted $0.47 earnings per share. As a group, equities research analysts predict that West Bancorporation, Inc. will post 2.59 EPS for the current year.

West Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from West Bancorporation's previous quarterly dividend of $0.25. West Bancorporation's payout ratio is 46.64%.

Institutional Trading of West Bancorporation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in West Bancorporation by 4,593.5% during the third quarter. Russell Investments Group Ltd. now owns 1,455 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 1,424 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of West Bancorporation by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider's stock worth $32,000 after acquiring an additional 660 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of West Bancorporation by 37.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 455 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of West Bancorporation by 662.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,784 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 3,288 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of West Bancorporation during the 4th quarter valued at $126,000. Hedge funds and other institutional investors own 44.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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