West Bancorporation (NASDAQ:WTBA) Shares Pass Below 200 Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemWest Bancorporation, Inc. (NASDAQ:WTBA – Get Free Report)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.58 and traded as low as $23.19. West Bancorporation shares last traded at $23.23, with a volume of 42,139 shares trading hands.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on WTBA. Zacks Research downgraded shares of West Bancorporation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Hovde Group began coverage on shares of West Bancorporation in a research note on Monday, April 6th. They set a “market perform” rating and a $25.50 price target on the stock. Weiss Ratings raised shares of West Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen raised shares of West Bancorporation from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.75.
Read Our Latest Research Report on West Bancorporation
West Bancorporation Stock Up 0.8%
The company has a fifty day moving average of $23.98 and a two-hundred day moving average of $23.60. The company has a market cap of $410.25 million, a PE ratio of 11.69 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.99 and a current ratio of 0.99.
West Bancorporation (NASDAQ:WTBA – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. West Bancorporation had a return on equity of 14.88% and a net margin of 17.30%.The company had revenue of $27.01 million for the quarter, compared to analyst estimates of $28.30 million. As a group, analysts anticipate that West Bancorporation, Inc. will post 2.55 earnings per share for the current fiscal year.
West Bancorporation Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, May 6th. West Bancorporation’s dividend payout ratio is presently 48.54%.
Institutional Investors Weigh In On West Bancorporation
Several hedge funds and other institutional investors have recently modified their holdings of the business. Basepoint Wealth LLC raised its holdings in shares of 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 buying an additional 421 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of West Bancorporation by 37.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,665 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 455 shares during the period. 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. increased its position in shares of West Bancorporation by 1.7% during the fourth quarter. Foster Group Inc. now owns 30,752 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 500 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in shares of West Bancorporation by 4.3% during 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 period. 44.30% of the stock is currently owned by hedge funds and other institutional investors.
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.