West Bancorporation, Inc. (NASDAQ:WTBA) announced a quarterly dividend on Friday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 5th will be paid a dividend of 0.21 per share by the financial services provider on Wednesday, August 19th. This represents a $0.84 annualized dividend and a yield of 5.12%. The ex-dividend date is Tuesday, August 4th.
West Bancorporation has increased its dividend payment by an average of 23.9% per year over the last three years and has increased its dividend every year for the last 7 years. West Bancorporation has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Analysts expect West Bancorporation to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 43.3%.
Shares of NASDAQ WTBA opened at $16.41 on Friday. The firm’s 50-day moving average price is $17.02 and its 200-day moving average price is $18.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $269.90 million, a price-to-earnings ratio of 8.68 and a beta of 0.95. West Bancorporation has a 12-month low of $13.74 and a 12-month high of $25.93.
West Bancorporation (NASDAQ:WTBA) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $22.52 million for the quarter, compared to analysts’ expectations of $21.80 million. West Bancorporation had a net margin of 28.60% and a return on equity of 15.12%. On average, equities analysts predict that West Bancorporation will post 2.1 EPS for the current fiscal year.
In other news, Director Michael J. Gerdin purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $15.20 per share, for a total transaction of $30,400.00. Following the acquisition, the director now owns 23,315 shares of the company’s stock, valued at approximately $354,388. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Gerdin purchased 2,579 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $16.48 per share, for a total transaction of $42,501.92. Following the completion of the acquisition, the director now directly owns 13,894 shares in the company, valued at approximately $228,973.12. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,779 shares of company stock worth $292,494 over the last quarter. 3.51% of the stock is currently owned by insiders.
WTBA has been the topic of several recent research reports. Zacks Investment Research cut shares of West Bancorporation from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Sunday, May 10th. BidaskClub cut shares of West Bancorporation from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, Piper Sandler upped their price target on shares of West Bancorporation from $17.00 to $18.50 and gave the company a “neutral” rating in a report on Wednesday, June 24th.
West Bancorporation Company Profile
West Bancorporation, Inc operates as the financial holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States. It offers various deposit products, including checking, savings, and money market accounts, as well as time certificates of deposit.
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