Hovde initiates coverage on West Bancorporation with 'market perform'

West Bancorporation

06/04/2026 11:31

** Hovde Group starts coverage of community lender West Bancorporation WTBA.O with "market perform" rating

** Sets PT of $25.50 PT, implying a 6% upside to stock's last close

** Says WTBA is a historically strong community bank franchise rebuilding its profitability after rate shocks crimped returns

** Sees a great deal of optimism on loan growth and further tailwinds from M&A dislocation in Iowa and Minnesota

     ** "For now, we think market perform is appropriate as we await more robust capital readings and material evidence that loan growth is beginning to work higher before we get bullish on shares" - Hovde

** As of last close, WTBA stock up 8.6% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))