Piper Sandler Issues Pessimistic Forecast for West Bancorporation (NASDAQ:WTBA) Stock Price

West Bancorporation (NASDAQ:WTBA) had its price objective reduced by equities researchers at Piper Sandler from $25.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 5.09% from the stock’s previous close.

Separately, StockNews.com upgraded West Bancorporation from a “sell” rating to a “hold” rating in a research note on Monday, October 28th.

West Bancorporation Stock Up 2.0 %

Shares of West Bancorporation stock traded up $0.43 during midday trading on Monday, hitting $21.89. The company had a trading volume of 3,317 shares, compared to its average volume of 23,218. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $368.36 million, a P/E ratio of 17.10 and a beta of 0.98. The company has a 50 day moving average of $22.45 and a 200 day moving average of $20.87. West Bancorporation has a 52-week low of $15.80 and a 52-week high of $24.85.

West Bancorporation (NASDAQ:WTBA) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. West Bancorporation had a return on equity of 9.46% and a net margin of 11.17%. During the same period in the prior year, the company posted $0.27 EPS. On average, equities analysts predict that West Bancorporation will post 1.4 earnings per share for the current fiscal year.

Insider Activity at West Bancorporation

In other news, Director Douglas R. Gulling sold 4,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $23.61, for a total transaction of $94,440.00. Following the transaction, the director now directly owns 80,709 shares of the company’s stock, valued at $1,905,539.49. This represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On West Bancorporation

Several hedge funds and other institutional investors have recently modified their holdings of WTBA. Aptus Capital Advisors LLC lifted its holdings in shares of West Bancorporation by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 230,629 shares of the financial services provider’s stock valued at $4,384,000 after buying an additional 31,194 shares during the period. JPMorgan Chase & Co. raised its holdings in West Bancorporation by 267.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 25,946 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 18,885 shares during the period. Barclays PLC raised its holdings in West Bancorporation by 291.2% in the 3rd quarter. Barclays PLC now owns 20,977 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 15,615 shares during the period. Geode Capital Management LLC raised its holdings in West Bancorporation by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 356,288 shares of the financial services provider’s stock worth $6,775,000 after purchasing an additional 7,320 shares during the period. Finally, De Lisle Partners LLP raised its holdings in West Bancorporation by 27.3% in the 3rd quarter. De Lisle Partners LLP now owns 32,156 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 6,893 shares during the period. 44.30% of the stock is owned by institutional investors.

West Bancorporation Company Profile

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