West Bancorporation (NASDAQ:WTBA) Announces Quarterly Earnings Results

Key Points

• West Bancorporation reported earnings of $0.55 per share, surpassing the consensus estimate of $0.47 by $0.08, with revenue of $25.00 million for the quarter.
• The company's stock increased by 2.3% in trading, reaching $20.29, with a market capitalization of $343.75 million and a P/E ratio of 11.93.
• Analysts have a consensus rating of "Hold" on West Bancorporation, with an average price target adjusted to $20.50 following recent reports.

West Bancorporation (NASDAQ:WTBA - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.08, Zacks reports. The business had revenue of $25.00 million for the quarter, compared to analysts' expectations of $24.20 million. West Bancorporation had a return on equity of 12.26% and a net margin of 14.40%.

West Bancorporation Stock Up 2.3%

NASDAQ:WTBA traded up $0.45 during trading hours on Thursday, hitting $20.29. The company's stock had a trading volume of 10,240 shares, compared to its average volume of 32,193. The stock has a market capitalization of $343.75 million, a P/E ratio of 11.93 and a beta of 0.88. The stock has a fifty day moving average of $19.96 and a 200-day moving average of $19.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.62. West Bancorporation has a 52-week low of $17.31 and a 52-week high of $24.85.

Hedge Funds Weigh In On West Bancorporation

Several large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in West Bancorporation by 662.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,784 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 3,288 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in West Bancorporation by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 660 shares in the last quarter. Marshall Wace LLP acquired a new position in West Bancorporation in the second quarter valued at $353,000. First Trust Advisors LP boosted its stake in West Bancorporation by 6.7% in the second quarter. First Trust Advisors LP now owns 11,017 shares of the financial services provider's stock valued at $216,000 after acquiring an additional 695 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in West Bancorporation in the second quarter valued at $1,006,000. Institutional investors and hedge funds own 44.30% of the company's stock.

Wall Street Analyst Weigh In

WTBA has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on West Bancorporation from $21.50 to $20.50 and set a "neutral" rating for the company in a research report on Monday, July 28th. Zacks Research upgraded West Bancorporation from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of West Bancorporation in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.50.

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.

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