West Bancorporation (NASDAQ:WTBA) Downgraded by Zacks Research to Hold

Zacks Research cut shares of West Bancorporation (NASDAQ:WTBA) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other research firms have also recently weighed in on WTBA. Weiss Ratings restated a “hold (c+)” rating on shares of West Bancorporation in a report on Monday. Piper Sandler boosted their target price on shares of West Bancorporation from $20.50 to $24.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

West Bancorporation Stock Down 0.7%

Shares of NASDAQ:WTBA opened at $22.54 on Thursday. West Bancorporation has a 52-week low of $17.31 and a 52-week high of $24.27. The company has a market capitalization of $381.83 million, a PE ratio of 11.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average of $22.05 and a 200-day moving average of $20.49.

West Bancorporation (NASDAQ:WTBA) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.08. West Bancorporation had a return on equity of 13.40% and a net margin of 16.04%.The company had revenue of $25.07 million for the quarter, compared to the consensus estimate of $24.20 million. On average, equities analysts predict that West Bancorporation will post 1.65 EPS for the current fiscal year.

West Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.4%. West Bancorporation’s payout ratio is 52.63%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On West Bancorporation

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new stake in West Bancorporation in the first quarter worth approximately $913,000. Northwestern Mutual Wealth Management Co. grew its position in shares of West Bancorporation by 5.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,171 shares of the financial services provider’s stock worth $223,000 after buying an additional 538 shares during the period. Trexquant Investment LP increased its stake in shares of West Bancorporation by 32.9% in the 1st quarter. Trexquant Investment LP now owns 21,854 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 5,410 shares in the last quarter. Royal Bank of Canada lifted its position in shares of West Bancorporation by 7.5% during the 1st quarter. Royal Bank of Canada now owns 38,547 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 2,675 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of West Bancorporation during the 1st quarter valued at $464,000. Institutional investors 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.