West Bancorporation (NASDAQ:WTBA) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded West Bancorporation to “Hold” from “Buy,” contributing to a broader consensus “Hold” rating from analysts. The consensus price target is $29.00.
• West Bancorporation reported quarterly earnings of $0.64 per share, slightly exceeding estimates of $0.63, while revenue of $28.22 million also topped expectations.
• The stock opened at $28.05 and is near its 12-month high of $28.44, with a market capitalization of approximately $478 million. Institutional investors own 44.3% of the company.

West Bancorporation (NASDAQ:WTBA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities research analysts have also issued reports about the company. Hovde Group boosted their target price on West Bancorporation from $25.50 to $28.00 and gave the stock a "market perform" rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of West Bancorporation in a report on Friday, June 5th. Finally, Piper Sandler lifted their target price on shares of West Bancorporation from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $29.00.

West Bancorporation Stock Performance

WTBA stock opened at $28.05 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $477.97 million, a price-to-earnings ratio of 12.58 and a beta of 0.72. West Bancorporation has a 12 month low of $17.31 and a 12 month high of $28.44. The firm has a 50 day moving average of $25.83 and a two-hundred day moving average of $24.68.

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. The business had revenue of $28.22 million for the quarter, compared to the consensus estimate of $28.15 million. West Bancorporation had a net margin of 18.75% and a return on equity of 15.48%. During the same quarter last year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that West Bancorporation will post 2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On West Bancorporation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of West Bancorporation by 4,593.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,455 shares of the financial services provider's stock worth $30,000 after purchasing an additional 1,424 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in West Bancorporation by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider's stock worth $32,000 after buying an additional 660 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in 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 buying an additional 455 shares during the period. Tower Research Capital LLC TRC raised 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 buying an additional 3,288 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of West Bancorporation in the 4th quarter valued at $126,000. 44.30% of the stock is currently owned by institutional investors.

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.

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