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

West Bancorporation (NASDAQ:WTBA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of West Bancorporation in a report on Monday. Piper Sandler raised their target price on West Bancorporation from $20.50 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.00.

West Bancorporation Stock Down 0.7%

Shares of West Bancorporation stock opened at $22.54 on Thursday. The company has a market cap of $381.83 million, a price-to-earnings ratio of 11.86 and a beta of 0.84. The company’s 50 day moving average is $22.05 and its 200 day moving average is $20.49. West Bancorporation has a twelve month low of $17.31 and a twelve month high of $24.27. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.52.

West Bancorporation (NASDAQ:WTBA) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. The business had revenue of $25.07 million during the quarter, compared to the consensus estimate of $24.20 million. West Bancorporation had a net margin of 16.04% and a return on equity of 13.40%. Research analysts anticipate that West Bancorporation will post 1.65 EPS for the current year.

Insider Activity

In other West Bancorporation news, Director George D. Milligan sold 10,000 shares of the company’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 completion of the sale, the director owned 53,195 shares in the company, valued at $1,154,863.45. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Douglas R. Gulling sold 7,900 shares of the firm’s 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 in the company, valued at $1,573,351.50. This trade represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,726 shares of company stock valued at $517,097 in the last three months. 4.58% of the stock is currently owned by corporate insiders.

Institutional Trading of West Bancorporation

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Basepoint Wealth LLC boosted its holdings in West Bancorporation by 1.3% in the 3rd quarter. Basepoint Wealth LLC now owns 35,497 shares of the financial services provider’s stock worth $721,000 after buying an additional 467 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of West Bancorporation by 5.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,171 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 538 shares in the last quarter. UBS Group AG boosted its stake in shares of West Bancorporation by 1.8% in the third quarter. UBS Group AG now owns 37,487 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 652 shares during the period. BNP Paribas Financial Markets grew its position in shares of West Bancorporation by 68.9% during the second 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 in the last quarter. Finally, First Trust Advisors LP raised its stake in West Bancorporation by 6.7% during the 2nd quarter. First Trust Advisors LP now owns 11,017 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 695 shares during the period. 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.