West Bancorporation price target lowered to $23 from $25 at Piper Sandler

Piper Sandler analyst Andrew Liesch lowered the firm’s price target on West Bancorporation (WTBA) to $23 from $25 and keeps a Neutral rating on the shares. The firm notes West Bancorporation reported Q4 EPS of 42c, though backing out an energy tax credit associated with its new headquarters, Piper puts the core number at 37c. This was 3c shy of the firm’s forecast, as the company recorded a $1M provision to reflect changes in the qualitative factors in its CECL model for CRE loans.