West Bancorporation (WTBA) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of West Bancorporation (NASDAQ:WTBA) from a sell rating to a hold rating in a research note released on Thursday morning.

Separately, Robert W. Baird initiated coverage on West Bancorporation in a report on Tuesday. They set an outperform rating and a $27.00 price objective for the company.

Shares of WTBA traded down $0.22 during midday trading on Thursday, hitting $22.10. 31 shares of the company traded hands, compared to its average volume of 22,498. West Bancorporation has a one year low of $21.50 and a one year high of $28.00. The stock has a market cap of $370.23 million, a PE ratio of 14.21 and a beta of 0.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.64.

West Bancorporation (NASDAQ:WTBA) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). West Bancorporation had a net margin of 28.63% and a return on equity of 15.09%. The company had revenue of $17.32 million for the quarter. Analysts expect that West Bancorporation will post 1.76 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC purchased a new stake in West Bancorporation in the first quarter worth approximately $551,000. Acadian Asset Management LLC boosted its stake in West Bancorporation by 14.5% in the second quarter. Acadian Asset Management LLC now owns 26,546 shares of the financial services provider’s stock worth $668,000 after buying an additional 3,364 shares in the last quarter. Bailard Inc. purchased a new stake in West Bancorporation in the second quarter worth approximately $644,000. Renaissance Technologies LLC boosted its stake in West Bancorporation by 3.0% in the second quarter. Renaissance Technologies LLC now owns 254,300 shares of the financial services provider’s stock worth $6,396,000 after buying an additional 7,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in West Bancorporation by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 700,057 shares of the financial services provider’s stock worth $17,921,000 after buying an additional 33,421 shares in the last quarter. 33.18% of the stock is owned by institutional investors.

About West Bancorporation

West Bancorporation, Inc operates as the holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States. It offers various deposit products, including checking, savings, and money market accounts, as well as time certificates of deposit.

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