West Bancorporation (NASDAQ:WTBA) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

West Bancorporation (NASDAQ:WTBA) issued its quarterly earnings results on Thursday. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01, FiscalAI reports. The firm had revenue of $28.22 million during the quarter, compared to analyst estimates of $28.15 million. West Bancorporation had a return on equity of 14.88% and a net margin of 17.30%.During the same period last year, the company posted $0.47 EPS.

West Bancorporation Stock Up 2.2%

NASDAQ WTBA traded up $0.58 on Thursday, reaching $27.20. The company had a trading volume of 8,644 shares, compared to its average volume of 49,043. The company’s fifty day moving average is $25.22 and its 200-day moving average is $24.42. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $463.23 million, a price-to-earnings ratio of 12.92 and a beta of 0.72. West Bancorporation has a 1-year low of $17.31 and a 1-year high of $27.87.

Analyst Ratings Changes

WTBA has been the subject of several research reports. Piper Sandler raised their price target on shares of West Bancorporation from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Research lowered West Bancorporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings restated a “buy (b)” rating on shares of West Bancorporation in a research note on Friday, June 5th. Hovde Group began coverage on West Bancorporation in a research note on Monday, April 6th. They set a “market perform” rating and a $25.50 price target for the company. Finally, Wall Street Zen raised West Bancorporation from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.25.

Institutional Trading of West Bancorporation

A number of institutional investors and hedge funds have recently bought and sold shares of WTBA. Russell Investments Group Ltd. raised its holdings in 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 purchasing an additional 1,424 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of West Bancorporation by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,618 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 660 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of West Bancorporation by 37.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 455 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in 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 period. Finally, Empowered Funds LLC bought a new position in shares of West Bancorporation during the 4th quarter worth approximately $126,000. 44.30% of the stock is currently owned by institutional investors and hedge funds.

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.