West Bancorporation (NASDAQ:WTBA) Issues Quarterly Earnings Results

Key Points

• West Bancorporation reported a quarterly earnings per share (EPS) of $0.47, exceeding the consensus estimate of $0.45 by $0.02, despite revenue of $23.83 million falling short of expectations.
• The company declared a quarterly dividend of $0.25 per share, resulting in a 5.35% dividend yield and an annualized dividend payout of $1.00.
• Recent institutional trading saw Acadian Asset Management increase its holdings by 27.9%, indicating growing interest from institutional investors in West Bancorporation.

West Bancorporation (NASDAQ:WTBA - Get Free Report) posted its quarterly earnings results on Thursday. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02, Zacks reports. The firm had revenue of $23.83 million during the quarter, compared to analysts' expectations of $24.20 million. West Bancorporation had a return on equity of 12.35% and a net margin of 14.40%.

West Bancorporation Price Performance

Shares of NASDAQ:WTBA traded down $0.14 during trading on Friday, hitting $18.70. 17,110 shares of the company were exchanged, compared to its average volume of 30,132. The business's 50 day moving average is $19.63 and its 200-day moving average is $20.25. The company has a market capitalization of $316.40 million, a P/E ratio of 11.00 and a beta of 0.89. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. West Bancorporation has a 1-year low of $17.33 and a 1-year high of $24.85.

West Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 5.35%. West Bancorporation's dividend payout ratio (DPR) is presently 64.94%.

Institutional Trading of West Bancorporation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in West Bancorporation by 27.9% in the first quarter. Acadian Asset Management LLC now owns 17,436 shares of the financial services provider's stock valued at $346,000 after purchasing an additional 3,799 shares during the period. Jane Street Group LLC bought a new stake in West Bancorporation during the first quarter valued at $464,000. Finally, Royal Bank of Canada boosted its position in West Bancorporation by 7.5% during the first quarter. Royal Bank of Canada now owns 38,547 shares of the financial services provider's stock valued at $769,000 after acquiring an additional 2,675 shares during the last quarter. 44.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a "neutral" rating and set a $21.50 price objective on shares of West Bancorporation in a research note on Tuesday, July 15th.

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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