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

West Bancorporation, Inc. (NASDAQ:WTBA) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $29.44 and last traded at $29.39, with a volume of 11711 shares changing hands. The stock had previously closed at $29.11.

Analyst Ratings Changes

Several research firms have issued reports on WTBA. Weiss Ratings reissued a “buy (b)” rating on shares of West Bancorporation in a research note on Friday, June 5th. Hovde Group boosted their price target on shares of West Bancorporation from $25.50 to $28.00 and gave the company a “market perform” rating in a research note 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 raised their price target on shares of West Bancorporation from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. 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, West Bancorporation presently has a consensus rating of “Hold” and a consensus price target of $29.00.

West Bancorporation Stock Up 0.6%

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 firm’s fifty day moving average is $26.47 and its 200-day moving average is $24.98. The stock has a market capitalization of $498.93 million, a PE ratio of 13.13 and a beta of 0.71.

West Bancorporation (NASDAQ:WTBA) last released its quarterly earnings data 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. The firm 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 in the previous year, the firm earned $0.47 earnings per share. On average, equities research analysts predict that West Bancorporation, Inc. will post 2.59 earnings per share for the current year.

West Bancorporation Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from West Bancorporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, August 5th. West Bancorporation’s payout ratio is presently 46.64%.

Institutional Trading of West Bancorporation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTBA. Russell Investments Group Ltd. increased 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 buying an additional 1,424 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in West Bancorporation by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 660 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in West Bancorporation by 37.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 455 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of West Bancorporation by 662.9% during the second 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 last quarter. Finally, Empowered Funds LLC bought a new position in West Bancorporation during the 4th quarter worth approximately $126,000. Hedge funds and other 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.