West Bancorporation (NASDAQ:WTBA) Releases Earnings Results, Beats Expectations By $0.04 EPS

West Bancorporation (NASDAQ:WTBA) posted its quarterly earnings data on Thursday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04, Zacks reports. West Bancorporation had a net margin of 16.04% and a return on equity of 13.40%. The firm had revenue of $17.62 million for the quarter, compared to the consensus estimate of $26.70 million.

West Bancorporation Stock Up 0.8%

Shares of West Bancorporation stock traded up $0.17 on Thursday, reaching $22.50. 8,352 shares of the company were exchanged, compared to its average volume of 27,669. The stock’s 50 day moving average price is $22.61 and its 200-day moving average price is $20.92. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.97 and a quick ratio of 0.97. West Bancorporation has a 1-year low of $17.31 and a 1-year high of $24.27. The company has a market cap of $381.15 million, a P/E ratio of 11.84 and a beta of 0.84.

Analysts Set New Price Targets

WTBA has been the topic of a number of analyst reports. Zacks Research cut shares of West Bancorporation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of West Bancorporation in a research note on Monday, December 29th. Finally, Piper Sandler lifted their price target on West Bancorporation from $20.50 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Insider Buying and Selling

In other West Bancorporation news, 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 transaction of $171,825.00. Following the completion of the sale, the director directly owned 72,338 shares of the company’s stock, valued at $1,573,351.50. The trade was a 9.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George D. Milligan sold 10,000 shares of the firm’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 sale, the director directly owned 53,195 shares in the company, valued at $1,154,863.45. This trade represents a 15.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,726 shares of company stock worth $517,097. Insiders own 4.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WTBA. Arrowstreet Capital Limited Partnership purchased a new stake in West Bancorporation in the second quarter valued at approximately $1,006,000. Vanguard Group Inc. increased its holdings in shares of West Bancorporation by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 875,719 shares of the financial services provider’s stock valued at $17,795,000 after acquiring an additional 37,502 shares during the period. Jane Street Group LLC purchased a new stake in West Bancorporation in the 1st quarter valued at $464,000. Two Sigma Investments LP boosted its stake in West Bancorporation by 102.5% during the 3rd quarter. Two Sigma Investments LP now owns 39,200 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 19,846 shares during the period. Finally, Marshall Wace LLP acquired a new stake in West Bancorporation during the 2nd quarter worth $353,000. Hedge funds and other 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.