Piper Sandler Boosts West Bancorporation (NASDAQ:WTBA) Price Target to $23.00

West Bancorporation (NASDAQ:WTBA) had its target price increased by Piper Sandler from $21.00 to $23.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

West Bancorporation Stock Up 6.2 %

Shares of NASDAQ:WTBA opened at $22.12 on Friday. The stock has a market cap of $371.93 million, a P/E ratio of 16.76 and a beta of 0.98. The firm has a fifty day moving average price of $19.35 and a 200 day moving average price of $18.33. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.95. West Bancorporation has a 1-year low of $15.80 and a 1-year high of $22.39.

West Bancorporation (NASDAQ:WTBA) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.31 by $0.04. West Bancorporation had a net margin of 11.17% and a return on equity of 9.46%. The company had revenue of $50.97 million during the quarter, compared to analysts’ expectations of $20.00 million. During the same quarter last year, the business earned $0.35 EPS. Sell-side analysts predict that West Bancorporation will post 1.4 EPS for the current year.

West Bancorporation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Wednesday, November 6th. West Bancorporation’s dividend payout ratio (DPR) is presently 75.76%.

Institutional Trading of West Bancorporation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of West Bancorporation by 280.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 48,424 shares of the financial services provider’s stock valued at $867,000 after purchasing an additional 35,680 shares during the period. Aptus Capital Advisors LLC increased its holdings in West Bancorporation by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 199,435 shares of the financial services provider’s stock valued at $3,570,000 after acquiring an additional 39,675 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in West Bancorporation by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 120,264 shares of the financial services provider’s stock valued at $2,153,000 after acquiring an additional 3,945 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in West Bancorporation by 87.2% during the 1st quarter. BNP Paribas Financial Markets now owns 8,240 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 3,839 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in West Bancorporation by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 216,752 shares of the financial services provider’s stock valued at $3,880,000 after acquiring an additional 8,200 shares in the last quarter. Institutional investors and hedge funds own 44.30% of the company’s stock.

About West Bancorporation

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.