West Bancorporation, Inc. WTBA R2K

Financial Services · Banks - Regional · United States

https://www.westbankstrong.com

West Bancorporation, Inc. operates as the bank holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States. The company offers deposit services, including checking, savings, and money market accounts, as well as time certificates of deposit. It also provides loan products comprising commercial real estate loans, construction and land development loans, commercial lines of credit, and commercial term loans; and consumer loans, including loans extended to individuals for household, family, and other personal expenditures not secured by real estate, as well as 1-4 family residential mortgages and home equity loans. In addition, the company offers online and mobile banking services; treasury management services, including online and mobile cash management, client-generated automated clearing house transactions, remote deposit capture, lock box and fraud protection services; merchant credit card processing and corporate credit cards; and trust services, such as administration of estates, conservatorships, personal trusts, and agency accounts. West Bancorporation, Inc. was founded in 1893 and is headquartered in West Des Moines, Iowa.

Market & Price

Market Cap

$407.65M

Current Price

$23.94

High / Low (52W)

$25.79 / $17.16

Beta

0.73

Valuation

Stock P/E

11.57

Industry PE

12.01

Forward P/E

8.40

PEG Ratio

Book Value

$15.90

Price to Book

1.51

P/S

4.11

EV/EBITDA

Dividend Yield

4.18%

Profitability & Returns

ROCE

ROE

13.88%

ROA

0.88%

Profit Margin

35.62%

Op Margin

51.77%

EPS (Latest Qtr)

$0.61

EPS (TTM)

$2.07

Balance Sheet & Liquidity

Debt/Equity

Quick Ratio

Current Ratio

Debt

$385.33M

Total Assets

$4.14B

Current Assets

Working Capital

Ownership

Promoter Holding

11.44%

Chg in Prom Hold

FII / Inst Holding

49.20%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$417.58M

Total Revenue (TTM)

$99.09M

EBITDA

Free Cash Flow

Operating Cash Flow

$49.62M

Shares Outstanding

17.03M

Gross Margin

0.00%

Payout Ratio

48.31%

Growth (CAGR)

Revenue 5Y

-2.50%

Profit 5Y

-11.14%

Revenue (YoY)

16.60%

Earnings (YoY)

32.60%

PROS

Excellent profit margin of 35.6%.
Attractive dividend yield of 4.18%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Revenue declined at -2.5% CAGR over 5 years.
Earnings shrank at -11.1% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	WTBA West Bancorporation, Inc. R2K	23.94	11.57	$407.65M	4.18%	-	13.88%	-2.50%	-11.14%
2	JPM JPMorgan Chase & Co. SPX	299.31	14.33	$802.00B	2.00%	-	16.47%	12.50%	14.83%
3	V Visa Inc. SPX	326.36	28.48	$620.65B	0.82%	38.38%	60.35%	10.92%	10.28%
4	MA Mastercard Incorporated SPX	493.98	28.57	$436.47B	0.70%	61.47%	-	13.82%	14.66%
5	MS Morgan Stanley SPX	208.00	18.84	$328.08B	1.92%	-	16.39%	9.52%	15.20%
6	GS The Goldman Sachs Group, Inc. SPX	1,025.56	18.73	$302.55B	1.76%	-	14.55%	7.16%	15.11%
7	WFC Wells Fargo & Company SPX	77.54	11.98	$237.29B	2.32%	-	12.03%	4.02%	15.98%
8	BLK BlackRock, Inc. SPX	1,046.88	26.32	$162.51B	2.19%	4.89%	11.90%	10.65%	2.36%
9	SCHW The Charles Schwab Corporation SPX	87.35	17.37	$151.91B	1.47%	-	19.08%	4.83%	7.21%

Quarterly Results

Figures in USD.

Metric	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.90M	23.65M	24.82M	23.12M	26.70M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25.28M	26.54M	26.42M	25.00M	23.01M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.04M	10.34M	11.45M	9.59M	13.47M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.19M	2.37M	2.14M	2.16M	2.90M
Net Income	5.94M	5.70M	5.48M	5.81M	6.03M	6.11M	6.37M	6.41M	4.19M	7.38M	6.76M	7.13M	7.23M	6.90M	6.66M	7.53M	7.61M	8.09M	7.97M	8.10M	8.55M	11.75M	13.24M	12.71M	11.91M	13.18M	12.67M	11.60M	7.84M	5.86M	5.91M	5.81M	5.19M	-	-	7.84M	7.98M	9.31M	7.42M	10.57M
Diluted EPS	0.37	0.35	0.34	0.36	0.37	0.37	0.39	0.39	0.26	0.45	0.41	0.43	0.44	0.42	0.41	0.46	0.46	0.49	0.48	0.49	0.52	0.70	0.79	0.76	0.71	0.78	0.75	0.69	0.47	0.35	0.35	0.35	0.31	-	-	0.46	0.47	0.55	0.43	0.61

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	101.95M	79.10M	79.13M	94.48M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	31.61M	91.27M	118.70M	103.24M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	59.40M	29.79M	27.44M	41.42M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	13.00M	5.65M	3.39M	8.86M
Net Income	-14.62M	13.38M	15.27M	16.01M	16.89M	20.04M	21.74M	23.02M	23.07M	28.51M	28.69M	32.71M	-	46.40M	24.14M	24.05M	32.56M
Diluted EPS	-	0.64	0.74	0.92	1.02	1.25	1.35	1.42	1.41	1.74	1.74	1.98	-	2.76	1.44	1.42	1.92

Compounded Sales Growth

5 Years:	-2.50%
1 Year:	16.60%

Compounded Profit Growth

5 Years:	-11.14%
1 Year:	32.60%

Stock Price Performance

1 Year:	+29.26%
6 Months:	+9.53%
3 Months:	-0.65%
1 Month:	+0.76%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	1.31B	1.27B	1.45B	1.44B	1.62B	1.75B	1.85B	2.11B	2.30B	2.47B	3.19B	-	3.61B	3.83B	4.01B	4.14B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash & Equivalents	196.97M	131.50M	87.95M	87.10M	171.47M	42.42M	39.78M	72.65M	-	-	-	-	-	-	26.54M	65.36M	243.48M	349.67M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.99M	13.58M	12.82M	11.98M
Total Liabilities	-	-	1.16B	1.15B	1.31B	1.32B	1.48B	1.60B	1.69B	1.94B	2.11B	2.26B	2.96B	-	3.40B	3.60B	3.79B	3.88B
Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long Term Debt	-	-	-	-	0	15.94M	12.68M	8.40M	5.13M	22.92M	27.04M	22.93M	21.56M	-	285.86M	442.37M	392.63M	376.41M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	285.86M	442.37M	392.63M	376.41M
Total Equity	150.06M	133.06M	145.44M	123.45M	134.59M	123.62M	140.18M	152.38M	165.38M	178.10M	191.02M	211.82M	223.69M	-	211.11M	225.04M	227.88M	265.99M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16.64M	16.73M	16.83M	16.94M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	17.61M	25.08M	26.03M	24.29M	-	-	-	-	29.36M	34.74M	36.97M	42.28M	-	59.44M	25.25M	39.81M	46.48M
Investing Cash Flow	-121.10M	216.48M	27.77M	-99.46M	-	-	-	-	-293.96M	-188.73M	-155.50M	-367.16M	-	-357.83M	-168.68M	-27.34M	93.30M
Financing Cash Flow	38.02M	-285.10M	-54.65M	159.54M	-	-	-	-	235.72M	153.51M	124.35M	668.02M	-	132.11M	182.25M	165.65M	87.83M
Capital Expenditure	-1.35M	-368.00K	-981.00K	-1.03M	-2.20M	-5.30M	-2.50M	-12.80M	-1.05M	-210.00K	-1.05M	-2.32M	-	-21.31M	-36.39M	-26.14M	-3.33M
Free Cash Flow	16.26M	24.72M	25.05M	23.25M	-	-	-	-	28.30M	34.53M	35.92M	39.97M	-	38.13M	-11.14M	13.67M	43.15M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-166.29M	38.82M	178.12M	227.61M
Share Buybacks	-	-	0	0	15.77M	0	0	-	-	-	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	45.5%	30.5%	30.4%	34.5%
ROE %	-11.0%	9.2%	12.4%	11.9%	13.7%	14.3%	14.3%	13.9%	13.0%	14.9%	13.5%	14.6%	-	22.0%	10.7%	10.6%	12.2%
ROCE %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Shareholding Pattern

Insiders

11.44%

Institutions

49.20%

Public Float

55.56%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	FMR, LLC	8.48%	1.44M	$34.56M
2	Blackrock Inc.	6.91%	1.18M	$28.18M
3	Vanguard Capital Management LLC	4.12%	701.07K	$16.78M
4	Dimensional Fund Advisors LP	3.83%	651.92K	$15.61M
5	West Bancorporation Inc.	2.46%	418.16K	$10.01M
6	Aptus Capital Advisors, LLC	2.40%	408.57K	$9.78M
7	Geode Capital Management, LLC	2.14%	364.51K	$8.73M
8	State Street Corporation	2.01%	342.17K	$8.19M
9	American Century Companies Inc	1.57%	266.66K	$6.38M
10	Legacy Bridge, LLC	1.44%	245.80K	$5.88M

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