West Bancorporation (NASDAQ:WTBA) Upgraded by Zacks Research to “Strong-Buy” Rating

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 report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on WTBA. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of West Bancorporation in a research note on Monday, December 29th. Piper Sandler lifted 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. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

West Bancorporation Stock Performance

NASDAQ WTBA opened at $25.68 on Monday. The business’s 50 day moving average price is $22.82 and its 200-day moving average price is $21.06. West Bancorporation has a fifty-two week low of $17.31 and a fifty-two week high of $25.88. The company has a market cap of $435.02 million, a P/E ratio of 13.45 and a beta of 0.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.97 and a current ratio of 0.97.

West Bancorporation (NASDAQ:WTBA) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. West Bancorporation had a net margin of 16.08% and a return on equity of 14.59%. The company had revenue of $17.62 million during the quarter, compared to analyst estimates of $26.70 million. Sell-side analysts predict that West Bancorporation will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other West Bancorporation news, Director George D. Milligan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $21.71, for a total transaction of $217,100.00. Following the transaction, the director owned 53,195 shares in the company, valued at approximately $1,154,863.45. This represents a 15.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas R. Gulling sold 7,900 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 72,338 shares in the company, valued at approximately $1,573,351.50. The trade was a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,726 shares of company stock worth $517,097. Insiders own 4.58% of the company’s stock.

Hedge Funds Weigh In On West Bancorporation

Several hedge funds and other institutional investors have recently bought and sold shares of WTBA. Vanguard Group Inc. raised its position in shares of West Bancorporation by 4.5% in the third quarter. Vanguard Group Inc. now owns 875,719 shares of the financial services provider’s stock worth $17,795,000 after acquiring an additional 37,502 shares during the period. Aptus Capital Advisors LLC raised its holdings in West Bancorporation by 15.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 402,664 shares of the financial services provider’s stock worth $8,182,000 after purchasing an additional 53,182 shares during the period. Rhino Investment Partners Inc acquired a new position in West Bancorporation in the 3rd quarter worth about $1,918,000. Arrowstreet Capital Limited Partnership lifted its position in shares of West Bancorporation by 14.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 58,655 shares of the financial services provider’s stock valued at $1,192,000 after buying an additional 7,428 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in West Bancorporation by 102.5% during the third quarter. Two Sigma Investments LP now owns 39,200 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 19,846 shares during the period. Institutional investors and hedge funds 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.