West Bancorporation (NASDAQ:WTBA) Posts Quarterly Earnings Results, Hits Expectations

West Bancorporation (NASDAQ:WTBA) posted its quarterly earnings data on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67, FiscalAI reports. The company had revenue of $29.20 million during the quarter, compared to analyst estimates of $28.95 million. West Bancorporation had a return on equity of 15.48% and a net margin of 18.75%.

West Bancorporation Price Performance

Shares of NASDAQ:WTBA traded down $0.60 on Thursday, reaching $29.86. The company’s stock had a trading volume of 21,770 shares, compared to its average volume of 53,445. The company has a 50-day simple moving average of $29.07 and a 200 day simple moving average of $26.02. West Bancorporation has a 52-week low of $20.81 and a 52-week high of $30.92. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $508.73 million, a P/E ratio of 13.37 and a beta of 0.71.

Analysts Set New Price Targets

A number of analysts recently commented on WTBA shares. Piper Sandler upped their price objective on West Bancorporation from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Hovde Group boosted their price target on West Bancorporation from $25.50 to $28.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of West Bancorporation from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen downgraded shares of West Bancorporation from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

About West Bancorporation

West Bancorporation, Inc (NASDAQ: WTBA) is a bank holding company headquartered in West Des Moines, Iowa. It operates primarily through West Bank, a community banking institution that provides financial services to businesses, individuals and nonprofit organizations.

West Bank offers commercial and consumer lending, including commercial real estate, business, residential real estate and personal loans. Its deposit products include checking, savings, money market and certificate of deposit accounts, while additional services include treasury management, online and mobile banking, cash management and trust or wealth management services.

Founded in 1893, West Bank serves communities primarily in central and eastern Iowa, with a presence in the Des Moines metropolitan area and other Iowa markets.