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West Bancorporation

Nasdaq:WTBA
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WTBA
Nasdaq
$355M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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. The last earnings update was 80 days ago. More info.


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WTBA Share Price and Events
7 Day Returns
0.1%
NasdaqGS:WTBA
0.3%
US Banks
0.6%
US Market
1 Year Returns
-14.7%
NasdaqGS:WTBA
-2.4%
US Banks
4.7%
US Market
WTBA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
West Bancorporation (WTBA) 0.1% 1.4% 2.4% -14.7% 14.2% 49.7%
US Banks 0.3% 4.1% 1.7% -2.4% 47.8% 48.1%
US Market 0.6% 4.2% 2.7% 4.7% 38% 43.5%
1 Year Return vs Industry and Market
  • WTBA underperformed the Banks industry which returned -2.4% over the past year.
  • WTBA underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
WTBA
Industry
5yr Volatility vs Market

Value

 Is West Bancorporation undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of West Bancorporation to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for West Bancorporation.

NasdaqGS:WTBA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $10.95 * 13.7%
$1.50
Book Value of Equity per Share Median Book Value from the past 5 years. $10.95
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:WTBA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (57.06%))
0.91
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.91 * 5.96%)
8.15%

Discounted Cash Flow Calculation for NasdaqGS:WTBA using Excess Returns Model Model

The calculations below outline how an intrinsic value for West Bancorporation is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:WTBA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.7% – 8.15%) * $10.95)
$0.60
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.60 / (8.15% - 2.73%)
$11.11
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $10.95 + $11.11
$22.06
NasdaqGS:WTBA Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.06
Current discount Discount to share price of $21.72
= -1 x ($21.72 - $22.06) / $22.06
1.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price West Bancorporation is available for.
Intrinsic value
2%
Share price is $21.72 vs Future cash flow value of $22.06
Current Discount Checks
For West Bancorporation to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • West Bancorporation's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • West Bancorporation's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for West Bancorporation's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are West Bancorporation's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:WTBA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.72
NasdaqGS:WTBA Share Price ** NasdaqGS (2019-07-12) in USD $21.72
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.88x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of West Bancorporation.

NasdaqGS:WTBA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:WTBA Share Price ÷ EPS (both in USD)

= 21.72 ÷ 1.72

12.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • West Bancorporation is good value based on earnings compared to the US Banks industry average.
  • West Bancorporation is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does West Bancorporation's expected growth come at a high price?
Raw Data
NasdaqGS:WTBA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
9.2%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.28x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NasdaqGS:WTBA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.63x ÷ 9.2%

1.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • West Bancorporation is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on West Bancorporation's assets?
Raw Data
NasdaqGS:WTBA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $12.00
NasdaqGS:WTBA Share Price * NasdaqGS (2019-07-12) in USD $21.72
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,239 Publicly-Listed Companies 1.81x
NasdaqGS:WTBA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:WTBA Share Price ÷ Book Value per Share (both in USD)

= 21.72 ÷ 12.00

1.81x

* Primary Listing of West Bancorporation.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • West Bancorporation is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess West Bancorporation's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. West Bancorporation has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is West Bancorporation expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is West Bancorporation expected to grow at an attractive rate?
  • West Bancorporation's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • West Bancorporation's earnings growth is positive but not above the United States of America market average.
  • West Bancorporation's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:WTBA Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:WTBA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 9.2%
NasdaqGS:WTBA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 7.6%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:WTBA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:WTBA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 81 33 1
2019-12-31 74 29 1
NasdaqGS:WTBA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 71 32 28
2018-12-31 70 35 29
2018-09-30 70 34 25
2018-06-30 70 32 25
2018-03-31 70 32 24
2017-12-31 69 29 23
2017-09-30 67 30 25
2017-06-30 66 30 24
2017-03-31 64 30 23
2016-12-31 64 30 23
2016-09-30 64 31 23
2016-06-30 63 29 23

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • West Bancorporation's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • West Bancorporation's revenue is expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:WTBA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from West Bancorporation Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:WTBA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.00 2.00 2.00 1.00
2019-12-31 1.75 1.75 1.75 1.00
NasdaqGS:WTBA Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.72
2018-12-31 1.75
2018-09-30 1.57
2018-06-30 1.52
2018-03-31 1.50
2017-12-31 1.42
2017-09-30 1.54
2017-06-30 1.51
2017-03-31 1.45
2016-12-31 1.43
2016-09-30 1.42
2016-06-30 1.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if West Bancorporation will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess West Bancorporation's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
West Bancorporation has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has West Bancorporation performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare West Bancorporation's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • West Bancorporation's year on year earnings growth rate has been positive over the past 5 years.
  • West Bancorporation's 1-year earnings growth exceeds its 5-year average (15.1% vs 7.9%)
  • West Bancorporation's earnings growth has not exceeded the US Banks industry average in the past year (15.1% vs 40.7%).
Earnings and Revenue History
West Bancorporation's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from West Bancorporation Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:WTBA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 70.89 28.02 30.36
2018-12-31 70.06 28.51 29.34
2018-09-30 70.46 25.48 28.99
2018-06-30 69.56 24.75 28.42
2018-03-31 69.64 24.35 28.04
2017-12-31 68.71 23.07 27.74
2017-09-30 66.72 24.91 27.31
2017-06-30 65.86 24.32 26.77
2017-03-31 64.13 23.43 26.24
2016-12-31 63.62 23.02 25.87
2016-09-30 64.01 22.93 25.55
2016-06-30 63.01 22.54 25.59
2016-03-31 62.41 22.34 25.29
2015-12-31 61.51 21.74 25.04
2015-09-30 60.58 21.64 25.15
2015-06-30 59.95 21.28 25.02
2015-03-31 59.15 20.74 25.02
2014-12-31 58.69 20.04 25.07
2014-09-30 57.28 18.48 24.65
2014-06-30 57.23 17.78 24.61
2014-03-31 56.49 17.34 24.72
2013-12-31 55.03 16.89 24.34
2013-09-30 53.95 16.51 23.37
2013-06-30 51.69 15.90 22.96
2013-03-31 50.92 15.98 22.14
2012-12-31 50.60 16.01 22.31
2012-09-30 51.44 15.84 22.27

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • West Bancorporation has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • West Bancorporation used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if West Bancorporation improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess West Bancorporation's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
West Bancorporation has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is West Bancorporation's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of West Bancorporation's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from West Bancorporation Company Filings, last reported 3 months ago.

NasdaqGS:WTBA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 196.27 192.95 48.35
2018-12-31 191.02 205.33 44.81
2018-09-30 184.62 141.75 31.63
2018-06-30 182.35 118.01 68.50
2018-03-31 178.24 170.63 39.86
2017-12-31 178.10 120.34 42.76
2017-09-30 178.09 194.88 40.28
2017-06-30 174.89 162.11 47.63
2017-03-31 169.77 162.77 43.59
2016-12-31 165.38 135.60 71.51
2016-09-30 164.86 162.58 50.85
2016-06-30 160.98 155.21 48.14
2016-03-31 156.93 146.90 56.72
2015-12-31 152.38 149.71 68.07
2015-09-30 149.22 191.13 54.79
2015-06-30 145.39 136.59 82.07
2015-03-31 143.72 135.06 88.96
2014-12-31 140.18 199.42 36.04
2014-09-30 135.73 174.49 35.79
2014-06-30 132.08 135.00 59.22
2014-03-31 127.57 136.90 88.38
2013-12-31 123.63 148.57 40.31
2013-09-30 121.16 176.84 94.45
2013-06-30 121.60 197.69 44.29
2013-03-31 136.49 179.48 57.17
2012-12-31 134.59 170.85 168.27
2012-09-30 132.64 198.70 41.83
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • West Bancorporation has an acceptable proportion of non-loan assets held.
  • West Bancorporation's liabilities are made up of primarily low risk sources of funding.
  • Loans at West Bancorporation are broadly funded by customer deposits.
  • West Bancorporation's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • West Bancorporation has a sufficient allowance for bad loans.
  • West Bancorporation has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess West Bancorporation's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. West Bancorporation has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is West Bancorporation's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.87%
Current annual income from West Bancorporation dividends. Estimated to be 3.98% next year.
If you bought $2,000 of West Bancorporation shares you are expected to receive $77 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • West Bancorporation's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • West Bancorporation's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:WTBA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:WTBA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.90 1.00
2019-12-31 0.83 1.00
NasdaqGS:WTBA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-25 0.840 3.956
2019-02-28 0.800 3.760
2019-01-24 0.800 3.606
2018-10-25 0.800 3.935
2018-07-26 0.800 3.385
2018-04-26 0.800 3.148
2018-01-25 0.720 2.829
2017-10-26 0.720 2.835
2017-07-27 0.720 3.148
2017-04-27 0.720 3.113
2017-03-01 0.680 3.011
2017-01-26 0.680 2.956
2016-10-27 0.680 2.955
2016-04-28 0.680 3.589
2016-03-03 0.640 3.506
2016-01-28 0.640 3.624
2015-07-24 0.640 3.333
2015-04-23 0.640 3.335
2015-03-05 0.560 2.978
2015-01-30 0.560 3.193
2014-07-25 0.480 3.088
2014-04-24 0.480 3.271
2013-10-25 0.440 2.975
2013-07-26 0.440 3.288
2013-04-25 0.400 3.375
2013-01-28 0.400 3.644
2012-10-26 0.400 3.772
2012-07-27 0.400 3.676
2012-04-26 0.320 3.358
2012-01-27 0.320 3.263
2011-10-28 0.280 3.002
2011-07-29 0.200 2.268
2011-04-28 0.200 2.486
2011-01-28 0.000 0.000
2010-10-29 0.000 0.000
2010-07-30 0.000 0.000
2010-04-29 0.000 0.000
2010-03-12 0.000 0.000
2010-01-29 0.000 0.000
2009-10-29 0.000 0.000
2009-04-16 0.040 0.696
2009-01-22 0.320 4.336
2008-10-16 0.640 5.634
2008-07-17 0.640 5.111

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of West Bancorporation's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess West Bancorporation's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can West Bancorporation afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. West Bancorporation has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of West Bancorporation's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dave Nelson
COMPENSATION $1,075,464
AGE 58
TENURE AS CEO 9.3 years
CEO Bio

Mr. David D. Nelson, also known as Dave, has been the Chief Executive Officer and President of West Bancorp., Inc. since April 1, 2010 and serves as its Director. Mr. Nelson has been the Chairman of the Board and Chief Executive Officer at West Bank since April 1, 2010. He served as the President of Southeast Minnesota Business Banking and President of Wells Fargo Bank Rochester in Rochester, Minnesota. Mr. Nelson has more than 25 years experience in commercial banking. Mr. Nelson has strong backgrounds in customer relationship building, credit and leadership development. In addition to his extensive professional expertise, he has been an active participant in many community organizations. He is a past board member of the Rochester Area Chamber of Commerce, the Olmsted County United Way and the Rochester Community and Technical College Foundation. He has also served as Chair of the Olmsted Medical Center Board of Trustees. He has been a Director of West Bank since April 1, 2010. For his dedication to the community, Nelson received the Mayor's Medal of Honor for Community Leadership in 2004. He graduated from Drake University in 1983 with a bachelor's degree in marketing and received his MBA from Drake the following year.

CEO Compensation
  • Dave's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dave's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the West Bancorporation management team in years:

9.3
Average Tenure
61
Average Age
  • The average tenure for the West Bancorporation management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dave Nelson

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
58
TENURE
9.3 yrs

Doug Gulling

TITLE
Executive VP
COMPENSATION
$857K
AGE
65
TENURE
17.7 yrs

Brad Winterbottom

TITLE
Executive Vice President
COMPENSATION
$857K
AGE
62
TENURE
13.5 yrs

Harlee Olafson

TITLE
Executive VP & Chief Risk Officer
COMPENSATION
$857K
AGE
61
TENURE
8.9 yrs

Jane Funk

TITLE
Senior VP
AGE
50
TENURE
0.5 yrs

John McKinney

TITLE
Vice President

Alice Jensen

TITLE
Secretary
TENURE
19.5 yrs

Mike Zinser

TITLE
Market President of Rochester - West Bank
TENURE
6.3 yrs

Han Wu

TITLE
Senior Vice President of West Bank

Rodney Weikert

TITLE
Senior Vice President of Real Estate - West Des Moines State Bank
Board of Directors Tenure

Average tenure and age of the West Bancorporation board of directors in years:

8.3
Average Tenure
62
Average Age
  • The tenure for the West Bancorporation board of directors is about average.
Board of Directors

Jim Noyce

TITLE
Chairman
COMPENSATION
$110K
AGE
63
TENURE
1.3 yrs

Dave Nelson

TITLE
CEO, President & Director
COMPENSATION
$1M
AGE
58
TENURE
9.3 yrs

Doug Gulling

TITLE
Executive VP
COMPENSATION
$857K
AGE
65
TENURE
15.8 yrs

Karen Green

TITLE
MD & Director of WB Capital Management Inc

Kevin Smith

TITLE
Senior VP of West Bank & Director of WB Capital Management Inc

Jon Augustine

TITLE
Managing Director of WB Capital Management Inc and Director of WB Capital Management Inc

George Milligan

TITLE
Director
COMPENSATION
$88K
AGE
62
TENURE
14.3 yrs

Steven Gaer

TITLE
Director
COMPENSATION
$84K
AGE
58
TENURE
8.3 yrs

Sean McMurray

TITLE
Director
COMPENSATION
$82K
AGE
51
TENURE
6.3 yrs

Steve Schuler

TITLE
Director
COMPENSATION
$82K
AGE
67
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by West Bancorporation individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
23. May 19 Buy Therese Vaughan Individual 23. May 19 23. May 19 1,200 $21.40 $25,680
20. May 19 Buy Sean McMurray Individual 17. May 19 17. May 19 8,397 $20.66 $173,482
09. May 19 Buy George Milligan Individual 08. May 19 08. May 19 5,000 $21.29 $106,450
13. Nov 18 Buy George Milligan Individual 09. Nov 18 09. Nov 18 1,500 $21.60 $32,400
05. Nov 18 Buy Steven Schuler Individual 05. Nov 18 05. Nov 18 1,000 $21.88 $21,880
X
Management checks
We assess West Bancorporation's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. West Bancorporation has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Now The Time To Put West Bancorporation (NASDAQ:WTBA) On Your Watchlist?

See our latest analysis for West Bancorporation How Quickly Is West Bancorporation Increasing Earnings Per Share? … It's good to see West Bancorporation insiders walking the walk, by spending US$360k on shares in just twelve months. … It's me that West Bancorporation insiders are buying the stock, but that's not the only reason to think leader are fair to shareholders.

Simply Wall St -

Should You Worry About West Bancorporation, Inc.'s (NASDAQ:WTBA) CEO Pay Cheque?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Check out our latest analysis for West Bancorporation How Does Dave Nelson's Compensation Compare With Similar Sized Companies? … A first glance this seems like a real positive for shareholders, since Dave Nelson is paid less than the average total compensation paid by similar sized companies.

Simply Wall St -

Need To Know: West Bancorporation, Inc. (NASDAQ:WTBA) Insiders Have Been Buying Shares

NasdaqGS:WTBA Recent Insider Trading, June 6th 2019 West Bancorporation is not the only stock insiders are buying. … West Bancorporation Insiders Bought Stock Recently Over the last three months, we've seen significant insider buying at West Bancorporation. … Insiders likely see value in West Bancorporation shares, given these transactions (along with notable insider ownership of the company).

Simply Wall St -

Read This Before You Buy West Bancorporation, Inc. (NASDAQ:WTBA) Because Of Its P/E Ratio

View our latest analysis for West Bancorporation How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for West Bancorporation: P/E of 12.71 = $21.86 ÷ $1.72 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … The Bottom Line On West Bancorporation's P/E Ratio West Bancorporation has a P/E of 12.7.

Simply Wall St -

Is West Bancorporation, Inc. (NASDAQ:WTBA) A Smart Pick For Income Investors?

The stock currently pays out a dividend yield of 3.8%, and has a market cap of US$346m. … Let's take a look at West Bancorporation in more detail. … Check out our latest analysis for West Bancorporation

Simply Wall St -

Do Directors Own West Bancorporation, Inc. (NASDAQ:WTBA) Shares?

If you want to know who really controls West Bancorporation, Inc. … West Bancorporation is a smaller company with a market capitalization of US$334m, so it may still be flying under the radar of many institutional investors. … institutional investors have bought into the company.

Simply Wall St -

Can You Imagine How West Bancorporation's (NASDAQ:WTBA) Shareholders Feel About The 40% Share Price Increase?

Furthermore, you'd generally like to see the share price rise faster than the market. … (NASDAQ:WTBA) has fallen short of that second goal, with a share price rise of 40% over five years, which is below the market return. … During five years of share price growth, West Bancorporation achieved compound earnings per share (EPS) growth of 11% per year.

Simply Wall St -

Should You Worry About West Bancorporation, Inc.'s (NASDAQ:WTBA) CEO Salary Level?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Dave Nelson's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$373m, and pays its CEO total annual compensation worth US$1.1m.

Simply Wall St -

Here's What West Bancorporation, Inc.'s (NASDAQ:WTBA) P/E Ratio Is Telling Us

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Based on the last twelve months, West Bancorporation's P/E ratio is 13.13. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Only 4 Days Left Until West Bancorporation, Inc. (NASDAQ:WTBA) Trades Ex-Dividend

If you are interested in cashing in on West Bancorporation, Inc.'s (NASDAQ:WTBA) upcoming dividend of US$0.20 per share, you only have 4 days left to buy the shares before its ex-dividend date, 05 February 2019, in time for dividends payable on the 20 February 2019. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

Company Info

Description

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. The company also provides loan products comprising commercial real estate loans, construction and land development loans, commercial lines of credit, and commercial term loans; consumer loans, including loans extended to individuals for household, family, and other personal expenditures not secured by real estate; and 1-4 family residential mortgages and home equity loans. In addition, it offers trust services, including the administration of estates, conservatorships, personal trusts, and agency accounts. Further, the company provides Internet and mobile banking services; treasury management services comprising cash management, client-generated automated clearing house transaction, remote deposit, and fraud protection services; and merchant credit card processing services and corporate credit cards. It has eight offices in the Des Moines area; one office in Coralville; and one office in Rochester, Minnesota. West Bancorporation, Inc. was founded in 1893 and is based in West Des Moines, Iowa.

Details
Name: West Bancorporation, Inc.
WTBA
Exchange: NasdaqGS
Founded: 1893
$355,290,373
16,357,752
Website: http://www.westbankstrong.com
Address: West Bancorporation, Inc.
1601 22nd Street,
West Des Moines,
Iowa, 50266,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS WTBA Common Stock Nasdaq Global Select US USD 13. Oct 1995
Number of employees
Current staff
Staff numbers
163
West Bancorporation employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/14 23:47
End of day share price update: 2019/07/12 00:00
Last estimates confirmation: 2019/06/25
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.