West Bancorporation (NASDAQ:WTBA) Reaches New 12-Month High - Here's Why

Key Points

• West Bancorporation shares reached a new 52-week high of $29.44, closing near $29.39 and moving above its 50-day and 200-day moving averages.
• Analysts expect modest upside, with an average price target of $29.00 and a consensus “Hold” rating; targets from Piper Sandler and Hovde Group were recently raised.
• The company exceeded quarterly earnings and revenue estimates, while increasing its quarterly dividend to $0.26 per share, representing a 3.6% annualized yield.

West Bancorporation, Inc. (NASDAQ:WTBA - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $29.44 and last traded at $29.39, with a volume of 11711 shares trading hands. The stock had previously closed at $29.11.

Wall Street Analysts Forecast Growth

Several research firms have commented on WTBA. Weiss Ratings reiterated a "buy (b)" rating on shares of West Bancorporation in a research note on Friday, June 5th. Piper Sandler raised their target price on West Bancorporation from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Hovde Group boosted their price target on West Bancorporation from $25.50 to $28.00 and gave the stock a "market perform" rating in a research report on Friday, July 24th. Finally, Wall Street Zen cut West Bancorporation from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One equities 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 currently has an average rating of "Hold" and an average price target of $29.00.

West Bancorporation Stock Performance

The company has a market cap of $498.93 million, a PE ratio of 13.13 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. The firm's 50 day moving average is $26.47 and its 200-day moving average is $24.98.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last released its earnings results 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 net margin of 18.75% and a return on equity of 15.48%. The business 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 posted $0.47 EPS. On average, research 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 announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 5th. This is an increase from West Bancorporation's previous quarterly dividend of $0.25. West Bancorporation's dividend payout ratio (DPR) is currently 46.64%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of West Bancorporation by 4.5% in the third quarter. Vanguard Group Inc. now owns 875,719 shares of the financial services provider's stock valued at $17,795,000 after purchasing an additional 37,502 shares during the period. Aptus Capital Advisors LLC boosted its holdings in West Bancorporation by 0.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 404,427 shares of the financial services provider's stock valued at $8,974,000 after purchasing an additional 1,763 shares during the last quarter. State Street Corp boosted its holdings in West Bancorporation by 0.4% in the 4th quarter. State Street Corp now owns 354,382 shares of the financial services provider's stock valued at $7,864,000 after purchasing an additional 1,454 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of West Bancorporation by 14.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 58,655 shares of the financial services provider's stock valued at $1,192,000 after buying an additional 7,428 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of West Bancorporation by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,607 shares of the financial services provider's stock valued at $1,035,000 after buying an additional 1,366 shares during the period. Institutional investors and hedge funds 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.

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