West Bancorporation (WTBA) Stock Analysis & Winston Score

West Bancorporation is the parent company of West Bank, a community bank based in Iowa. It offers everyday banking services like checking and savings accounts, loans, and treasury management to small and mid-sized businesses, real estate developers, and individual customers. The bank operates primarily in the Des Moines, Iowa area, with a small number of additional locations in Minnesota.

West Bancorporation makes money mainly through net interest income — the difference between what it earns on loans and what it pays on deposits. It is a small regional bank with a market cap around $400 million, and its competitive edge comes from deep local relationships and a focus on commercial real estate and business lending rather than mass-market retail banking. The main risk the company faces is interest rate sensitivity, since rising or falling rates can quickly squeeze the gap between its lending income and deposit costs, putting pressure on profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+31.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

10.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$220M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

West Bancorporation is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

53.9%

Healthy — 53.9% gross margin

Operating Margin

26.9%

Excellent — 26.9% operating margin

ROCE

2.1%

Weak — 2.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+0.2%

Nearly flat sales (0.2% YoY)

EPS YoY

+34.2%

Earnings growing fast (34.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

141%

Turns 141% of profit into real cash

FCF Margin

23.7%

Converts sales into free cash efficiently (23.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.39

Elevated debt (1.39)

Interest Cover

0.44x

Dangerous — barely covers interest (0.4x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

P/E Ratio (TTM)

12.8x

no trend

Attractive valuation — P/E 12.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+2.2

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield

3.65%

no trend

Moderate income — 3.65% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+0.0%

no trend

Dividend flat

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