West Bancorporation Upgraded by StockNews.com

West Bancorporation (NASDAQ:WTBA) has received a rating upgrade from analysts at StockNews.com, moving from a "sell" rating to a "hold" rating in a recent research report released on Monday.

In addition to this news, Piper Sandler also raised their target price for West Bancorporation's shares from $21.00 to $23.00, maintaining a "neutral" rating in their own report issued on Friday.

West Bancorporation Stock Performance

On Monday, the trading for West Bancorporation shares saw a notable increase, climbing by 6.2% or $1.30, leading to a trading price of $22.12. A total of 58,084 shares were traded, significantly surpassing the average volume of 27,388 shares. Currently, the company boasts a market capitalization of approximately $371.93 million. Its financial ratios include a current ratio of 0.95, a quick ratio of 0.95, and a debt-to-equity ratio of 1.86. The company's price-to-earnings ratio stands at 16.76. Over the last fifty-two weeks, the stock has experienced a low of $15.80 and a high of $22.39, while the 50-day moving average is $19.35 and the 200-day moving average is $18.33.

The company's latest quarterly earnings report, which was released on Thursday, October 24th, reflected a positive performance. West Bancorporation reported an earnings per share (EPS) of $0.35, surpassing the analysts' consensus estimate of $0.31 by $0.04. The financial service provider has achieved a return on equity of 9.46% and a net margin of 11.17%. Revenue for the quarter hit $50.97 million, which exceedingly exceeded the expected $20.00 million. In the same period last year, earnings stood at $0.35 per share, and future predictions suggest West Bancorporation could post an EPS of 1.4 for the current fiscal year.

Recent Institutional Trading Activity

Recent changes in the institutional investment landscape relating to West Bancorporation include significant adjustments. For instance, BNP Paribas Financial Markets increased its holdings by 87.2% in the first quarter, acquiring an additional 3,839 shares, bringing its total to 8,240 shares worth approximately $147,000. Vanguard Group Inc. also raised its stake by 3.0%, now holding 733,742 shares valued at $13,083,000 after adding 21,604 shares during the same quarter.

Other movements include Quadrature Capital Ltd. purchasing a new stake valued at $196,000, while Price T Rowe Associates Inc. MD increased its holdings by 1.6% to own 41,994 shares worth $749,000 after buying 647 more shares. Independent Wealth Network Inc. has likewise acquired a new stake valued at $182,000. Subsequently, around 44.30% of West Bancorporation’s stock is owned by institutional investors.

About West Bancorporation

West Bancorporation, Inc. functions as a financial holding company that provides community banking and trust services primarily for individuals and small to medium-sized businesses across the United States. The services offered include various deposit options such as checking, savings, and money market accounts, along with time certificates of deposit.

Conclusion

This recent upgrade and activity in the stock signifies investor confidence in West Bancorporation's potential. As they maintain a hold position, analysts will continue to monitor the company's performance closely, providing insights for potential investors.

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