West Bancorporation (NASDAQ:WTBA) Stock Rating Upgraded by Zacks Research

West Bancorporation (NASDAQ:WTBA) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler lifted their target price on shares of West Bancorporation from $20.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of West Bancorporation in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, West Bancorporation currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

West Bancorporation Trading Up 0.5%

Shares of NASDAQ:WTBA opened at $25.68 on Monday. The stock has a 50 day moving average of $22.82 and a 200 day moving average of $21.06. The company has a market cap of $435.02 million, a PE ratio of 13.45 and a beta of 0.86. West Bancorporation has a 12-month low of $17.31 and a 12-month high of $25.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.52.

West Bancorporation (NASDAQ:WTBA) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $17.62 million for the quarter, compared to the consensus estimate of $26.70 million. West Bancorporation had a net margin of 16.08% and a return on equity of 14.59%. As a group, equities research analysts expect that West Bancorporation will post 1.65 EPS for the current year.

Insider Activity

In related news, Director George D. Milligan sold 10,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $21.71, for a total value of $217,100.00. Following the sale, the director directly owned 53,195 shares in the company, valued at approximately $1,154,863.45. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas R. Gulling sold 7,900 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $21.75, for a total value of $171,825.00. Following the transaction, the director directly owned 72,338 shares of the company’s stock, valued at approximately $1,573,351.50. The trade was a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,726 shares of company stock worth $517,097 over the last ninety days. Insiders own 4.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in West Bancorporation by 4,593.5% during the third quarter. Russell Investments Group Ltd. now owns 1,455 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,424 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of West Bancorporation by 68.9% in the 2nd 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. CWM LLC increased its holdings in shares of West Bancorporation by 157.6% in the 3rd quarter. CWM LLC now owns 1,672 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,023 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of West Bancorporation by 662.9% during 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, JPMorgan Chase & Co. raised its position in shares of West Bancorporation by 20.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,334 shares of the financial services provider’s stock valued at $190,000 after buying an additional 1,585 shares in the last quarter. 44.30% of the stock is owned by hedge funds and other institutional investors.

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.