West Bancorporation (NASDAQ:WTBA) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• West Bancorporation shares rose above their 200-day moving average, reaching $28.42 and last trading at $28.39, compared with a 200-day average of $24.94.
• Analysts’ consensus rating is “Hold”, with an average price target of $29.00; individual targets range from $28.00 to $30.00.
• The company exceeded quarterly earnings and revenue estimates and increased its quarterly dividend to $0.26 per share, implying a 3.7% annualized yield.

West Bancorporation, Inc. (NASDAQ:WTBA - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.94 and traded as high as $28.42. West Bancorporation shares last traded at $28.39, with a volume of 90,920 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WTBA shares. Weiss Ratings restated a "buy (b)" rating on shares of West Bancorporation in a research report on Friday, June 5th. Hovde Group increased their target price on West Bancorporation from $25.50 to $28.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Wall Street Zen lowered West Bancorporation from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Piper Sandler boosted their price target on West Bancorporation from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $29.00.

West Bancorporation Stock Performance

The company's 50-day simple moving average is $26.37 and its 200-day simple moving average is $24.94. The stock has a market capitalization of $483.77 million, a price-to-earnings ratio of 12.73 and a beta of 0.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.33.

West Bancorporation (NASDAQ:WTBA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.64 EPS 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 company had revenue of $28.22 million for the quarter, compared to analyst estimates of $28.15 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, analysts expect that West Bancorporation, Inc. will post 2.59 EPS for the current 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, August 5th. This is a boost from West Bancorporation's previous quarterly dividend of $0.25. West Bancorporation's dividend payout ratio (DPR) is presently 46.64%.

Institutional Investors Weigh In On West Bancorporation

A number of institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in shares of West Bancorporation in the fourth quarter worth approximately $126,000. CANADA LIFE ASSURANCE Co increased its position in West Bancorporation by 37.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 455 shares during the period. BNP Paribas Financial Markets raised its holdings in West Bancorporation by 86.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,017 shares of the financial services provider's stock worth $61,000 after purchasing an additional 1,399 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in 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 during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 worth $74,000 after purchasing an additional 3,288 shares during the period. Institutional investors own 44.30% of the company's stock.

About West Bancorporation

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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