West Bancorporation (NASDAQ:WTBA) Announces Quarterly Earnings Results

West Bancorporation (NASDAQ:WTBA) announced its quarterly earnings data on Thursday. The financial services provider reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67, FiscalAI reports. West Bancorporation had a return on equity of 15.48% and a net margin of 18.75%. The company had revenue of $29.20 million for the quarter, compared to the consensus estimate of $28.95 million.

West Bancorporation Trading Down 1.7%

WTBA traded down $0.52 during midday trading on Thursday, hitting $29.95. The company’s stock had a trading volume of 11,910 shares, compared to its average volume of 53,421. West Bancorporation has a 52-week low of $20.81 and a 52-week high of $30.92. The firm has a 50-day moving average price of $29.07 and a two-hundred day moving average price of $26.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.33. The firm has a market cap of $510.26 million, a P/E ratio of 13.49 and a beta of 0.71.

Analyst Ratings Changes

Several equities analysts have weighed in on WTBA shares. Piper Sandler boosted their target price on shares of West Bancorporation from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Wall Street Zen downgraded West Bancorporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded West Bancorporation from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Hovde Group upped their price target on West Bancorporation from $25.50 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, West Bancorporation currently has an average rating of “Hold” and a consensus price target of $29.00.

About West Bancorporation

West Bancorporation, Inc (NASDAQ: WTBA) is a bank holding company headquartered in West Des Moines, Iowa. It operates primarily through West Bank, a community banking institution that provides financial services to businesses, individuals and nonprofit organizations.

West Bank offers commercial and consumer lending, including commercial real estate, business, residential real estate and personal loans. Its deposit products include checking, savings, money market and certificate of deposit accounts, while additional services include treasury management, online and mobile banking, cash management and trust or wealth management services.

Founded in 1893, West Bank serves communities primarily in central and eastern Iowa, with a presence in the Des Moines metropolitan area and other Iowa markets.