West Bancorporation (NASDAQ:WTBA) Shares Break Above 200-Day Moving Average - Time to Sell?

Key Points

• West Bancorporation shares broke above their 200-day moving average, reaching $28.71 before closing at $28.37, compared with the moving average of $26.36.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from four analysts and an average price target of $29.00, despite recent target increases from Piper Sandler and Hovde Group.
• The company reported quarterly earnings and revenue slightly above estimates and raised its quarterly dividend to $0.26, implying a 3.7% annualized yield; institutional investors own 44.3% of the stock.

Shares of West Bancorporation, Inc. (NASDAQ:WTBA - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $26.36 and traded as high as $28.71. West Bancorporation shares last traded at $28.37, with a volume of 60,291 shares trading hands.

Analysts Set New Price Targets

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

West Bancorporation Price Performance

The business has a 50-day simple moving average of $28.93 and a 200 day simple moving average of $26.36. The firm has a market cap of $483.42 million, a P/E ratio of 12.72 and a beta of 0.71. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.00 and a current ratio of 1.00.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.64 earnings per share for the quarter, topping 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 firm had revenue of $28.22 million for the quarter, compared to analyst estimates of $28.15 million. During the same period last year, the company earned $0.47 EPS. On average, analysts anticipate that West Bancorporation, Inc. will post 2.59 earnings per share for the current fiscal year.

West Bancorporation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.7%. This is an increase from West Bancorporation's previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, August 5th. West Bancorporation's dividend payout ratio (DPR) is presently 46.64%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WTBA. Sequoia Financial Advisors LLC boosted its stake in shares of West Bancorporation by 4.2% during 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 in the last quarter. Squarepoint Ops LLC increased its position in shares of West Bancorporation by 332.0% during the second quarter. Squarepoint Ops LLC now owns 36,548 shares of the financial services provider's stock valued at $970,000 after buying an additional 28,087 shares during the period. Quantinno Capital Management LP raised its stake in West Bancorporation by 28.8% in 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 in the last quarter. Independent Wealth Network Inc. raised its stake in West Bancorporation by 42.0% in the first quarter. Independent Wealth Network Inc. now owns 14,698 shares of the financial services provider's stock worth $350,000 after buying an additional 4,345 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its holdings in West Bancorporation by 0.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 404,427 shares of the financial services provider's stock worth $8,974,000 after buying an additional 1,763 shares during the period. 44.30% of the stock is currently owned by institutional investors.

About West Bancorporation

West Bancorporation, Inc is a bank holding company headquartered in West Des Moines, Iowa. Its principal subsidiary, West Bank, provides commercial banking services to businesses, agricultural customers, professionals and individuals.

West Bank's products and services include commercial and real estate lending, agricultural loans, residential mortgage lending, consumer loans, deposit accounts, cash-management services, online and mobile banking, and trust and investment services. The bank also supports businesses through treasury-management and other financial services.

West Bancorporation traces its banking operations to the establishment of West Bank in 1893.

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