West Bancorporation (NASDAQ:WTBA) Posts Earnings Results, Meets Expectations

West Bancorporation (NASDAQ:WTBA) posted its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share (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 business had revenue of $29.20 million for the quarter, compared to analyst estimates of $28.95 million.

West Bancorporation Stock Down 1.7%

Shares of WTBA traded down $0.52 during mid-day trading on Thursday, hitting $29.95. 11,910 shares of the company’s stock were exchanged, compared to its average volume of 53,421. The firm has a fifty day moving average of $29.07 and a two-hundred day moving average of $26.02. West Bancorporation has a twelve month low of $20.81 and a twelve month high of $30.92. The stock has a market cap of $510.26 million, a price-to-earnings ratio of 13.49 and a beta of 0.71. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.33.

Analyst Upgrades and Downgrades

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

West Bancorporation Company Profile

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.