West Bancorporation (NASDAQ:WTBA) Now Covered by Analysts at Hovde Group

Analysts at Hovde Group initiated coverage on shares of West Bancorporation (NASDAQ:WTBA) in a research note issued on Monday. The brokerage set a “market perform” rating and a $25.50 price target on the financial services provider’s stock. Hovde Group’s price objective would suggest a potential upside of 5.81% from the company’s previous close.

Several other equities research analysts have also issued reports on WTBA. Weiss Ratings upgraded shares of West Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Zacks Research raised West Bancorporation from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.75.

West Bancorporation Stock Performance

Shares of NASDAQ:WTBA opened at $24.10 on Monday. The company has a market capitalization of $408.25 million, a price-to-earnings ratio of 12.62 and a beta of 0.82. West Bancorporation has a fifty-two week low of $17.31 and a fifty-two week high of $26.60. The firm’s 50 day simple moving average is $24.34 and its 200 day simple moving average is $22.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.99 and a quick ratio of 0.99.

West Bancorporation (NASDAQ:WTBA) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $27.34 million during the quarter, compared to the consensus estimate of $26.70 million. West Bancorporation had a return on equity of 14.28% and a net margin of 16.08%. As a group, sell-side analysts forecast that West Bancorporation will post 1.65 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Basepoint Wealth LLC grew its position in West Bancorporation by 1.2% in the fourth quarter. Basepoint Wealth LLC now owns 35,918 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 421 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of West Bancorporation by 37.6% in the fourth 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. Mutual Advisors LLC increased its position in shares of West Bancorporation by 1.7% during the fourth quarter. Mutual Advisors LLC now owns 28,851 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 470 shares during the period. Foster Group Inc. raised its position in West Bancorporation by 1.7% in the 4th quarter. Foster Group Inc. now owns 30,752 shares of the financial services provider’s stock valued at $682,000 after purchasing an additional 500 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in West Bancorporation by 4.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 15,666 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 642 shares during the last quarter. 44.30% of the stock is currently owned by institutional investors and hedge funds.

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.