West Bancorporation Inc (WTBA) shareholders
WTBANasdaqState Commercial BanksFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 12/3020% above fair value
$30.40+0.20 (+0.66%)
Close on Nov 13, 2026Market cap $518.13MP/E 12.9Yield 3.29%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
50.2%
9M of 17M shares
Institutional holders
114
17 new, 11 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 3 sales
Net sold $538.74K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| FMR LLC Joint filing with Abigail P. Johnson (8.28%) | 1,384,091 | 8.28% | 13G (passive) amendment | Feb 9, 2024 |
| BlackRock, Inc. | 1,226,891 | 7.30% | 13G (passive) amendment | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of WTBA | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 1,443,577 | 8.47% | $38.30M | +6 | 0.00% |
| BlackRock, Inc. | 1,344,061 | 7.89% | $35.66M | +167,061 | 0.00% |
| Dimensional Fund Advisors LP | 648,581 | 3.81% | $17.21M | −3,343 | 0.00% |
| Vanguard Capital Management LLC | 647,004 | 3.80% | $17.17M | −54,068 | 0.00% |
| West Bancorporation Inc | 415,411 | 2.44% | $11.02M | −2,750 | 4.71% |
| Aptus Capital Advisors, LLC | 411,047 | 2.41% | $10.91M | +2,479 | 0.07% |
| Geode Capital Management, LLC | 395,349 | 2.32% | $10.49M | +30,842 | 0.00% |
| American Century Companies Inc | 377,827 | 2.22% | $10.02M | +111,170 | 0.00% |
| State Street Corp | 344,730 | 2.02% | $9.15M | +2,564 | 0.00% |
| Legacy Bridge, LLC | 225,579 | 1.32% | $5.98M | −20,222 | 1.85% |
| Morgan Stanley | 181,385 | 1.06% | $4.81M | +10,025 | 0.00% |
| Renaissance Technologies LLC | 171,752 | 1.01% | $4.56M | −10,700 | 0.01% |
| Two Sigma Investments, LP | 135,265 | 0.79% | $3.59M | +49,286 | 0.00% |
| Northern Trust Corp | 128,438 | 0.75% | $3.41M | +8,886 | 0.00% |
| Citadel Advisors LLC | 108,223 | 0.63% | $2.87M | +37,853 | 0.00% |
| Vanguard Portfolio Management LLC | 104,865 | 0.62% | $2.78M | +17,261 | 0.00% |
| Vanguard Fiduciary Trust Co | 102,011 | 0.60% | $2.71M | +5,516 | 0.00% |
| Bank of New York Mellon Corp | 92,501 | 0.54% | $2.45M | +2,524 | 0.00% |
| Qube Research & Technologies Ltd | 71,163 | 0.42% | $1.89M | New | 0.00% |
| Goldman Sachs Group Inc | 70,379 | 0.41% | $1.87M | +10,452 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 114 | 9M | 50.2% | 17 / 46 | 25 / 11 | 1M | 0M |
| Q1 2026 | 110 | 8M | 48.0% | 12 / 31 | 43 / 5 | 1M | 0M |
| Q4 2025 | 104 | 8M | 47.5% | 14 / 38 | 28 / 7 | 1M | 0M |
| Q3 2025 | 98 | 8M | 45.6% | 11 / 33 | 34 / 7 | 0M | 0M |
| Q2 2025 | 94 | 8M | 46.0% | 13 / 29 | 33 / 7 | 0M | 0M |
| Q1 2025 | 88 | 8M | 46.0% | 11 / 25 | 33 / 5 | 0M | 0M |
| Q4 2024 | 86 | 8M | 45.3% | 13 / 34 | 20 / 6 | 0M | 0M |
| Q3 2024 | 79 | 8M | 44.9% | 11 / 32 | 17 / 7 | 2M | 0M |
| Q2 2024 | 77 | 8M | 44.4% | 10 / 29 | 22 / 7 | 0M | 0M |
| Q1 2024 | 75 | 8M | 45.6% | 8 / 26 | 22 / 6 | 0M | 0M |
| Q4 2023 | 73 | 8M | 44.5% | 6 / 29 | 19 / 2 | 0M | 0M |
| Q3 2023 | 69 | 7M | 42.5% | 5 / 19 | 33 / 2 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
154 funds held WTBA in Q2 2026, 48% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of WTBA | Value | % of fund | As of |
|---|---|---|---|---|---|
| Fidelity Low-Priced Stock Fund | 596,920 | 3.50% | $16.74M | 0.07% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 459,454 | 2.70% | $12.19M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 437,354 | 2.57% | $11.60M | 0.01% | Jun 30, 2026 |
| Opus Small Cap Value ETF | 434,551 | 2.55% | $12.19M | 1.73% | Jul 31, 2026 |
| Avantis U.S. Small Cap Value ETF | 295,024 | 1.73% | $7.06M | 0.03% | May 31, 2026 |
| Vanguard Extended Market Index Fund | 173,873 | 1.02% | $4.61M | 0.00% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 172,955 | 1.01% | $4.85M | 0.01% | Jul 31, 2026 |
| Fidelity Series Intrinsic Opportunities Fund | 164,600 | 0.97% | $4.62M | 0.16% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 139,448 | 0.82% | $3.70M | 0.03% | Jun 30, 2026 |
| Strategic Advisers Fidelity U.S. Total Stock Fund | 128,100 | 0.75% | $3.07M | 0.00% | May 31, 2026 |
| U.S. Targeted Value Portfolio | 113,362 | 0.67% | $3.18M | 0.02% | Jul 31, 2026 |
| Fidelity Low-Priced Stock K6 Fund | 109,290 | 0.64% | $3.07M | 0.07% | Jul 31, 2026 |
| Dimensional U.S. Targeted Value ETF | 93,612 | 0.55% | $2.63M | 0.02% | Jul 31, 2026 |
| U.S. Micro Cap Portfolio | 83,604 | 0.49% | $2.35M | 0.03% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 77,876 | 0.46% | $1.86M | 0.01% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David D. Nelson | CEO & PRESIDENT, Director | 256,492 | 1.50% | Mar 26, 2026 |
| Harlee Olafson | CHIEF RISK OFFICER | 156,798 | 0.92% | Mar 26, 2026 |
| Brad L. Winterbottom | EXECUTIVE VICE PRESIDENT | 181,254 | 1.06% | Mar 26, 2026 |
| Jane M. Funk | CFO | 71,737 | 0.42% | Mar 26, 2026 |
| Bradley P. Peters | Executive Vice President | 86,524 | 0.51% | Mar 26, 2026 |
| Steven K. Gaer | Director | 19,236 | 0.11% | Nov 6, 2026 |
| John Kevin Sorensen | Director | 3,168 | 0.02% | Apr 24, 2026 |
| Douglas R. Gulling | Director | 101,042 | 0.59% | Apr 24, 2026 |
| Sean Patrick McMurray | Director | 48,560 | 0.28% | Apr 24, 2026 |
| Rosemary Parson | Director | 8,148 | 0.05% | Apr 24, 2026 |
| Therese M. Vaughan | Director | 14,581 | 0.09% | Apr 24, 2026 |
| Lisa J. Elming | Director | 9,048 | 0.05% | Apr 24, 2026 |
| James Noyce | Director | 23,821 | 0.14% | Feb 18, 2026 |
| George D. Milligan | Director | 53,195 | 0.31% | Nov 25, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Steven K. Gaer Director | Nov 4, 2026 | Sale | −6,215 | $31.13 | $193.47K | 19,236 |
| Sean Patrick McMurray Director | Apr 23, 2026 | Award | +1,430 | – | – | 48,560 |
| Rosemary Parson Director | Apr 23, 2026 | Award | +1,430 | – | – | 8,148 |
| Douglas R. Gulling Director | Apr 23, 2026 | Award | +1,430 | – | – | 73,768 |
| Steven K. Gaer Director | Apr 23, 2026 | Award | +1,430 | – | – | 25,451 |
| John Kevin Sorensen Director | Apr 23, 2026 | Award | +1,430 | – | – | 3,168 |
| Therese M. Vaughan Director | Apr 23, 2026 | Award | +1,430 | – | – | 14,581 |
| Lisa J. Elming Director | Apr 23, 2026 | Award | +1,430 | – | – | 9,048 |
| Bradley P. Peters Executive Vice President | Mar 25, 2026 | Tax withholding | −6,111 | $23.71 | $144.89K | 86,524 |
| Harlee Olafson CHIEF RISK OFFICER | Mar 25, 2026 | Tax withholding | −6,334 | $23.71 | $150.18K | 135,948 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Mar 25, 2026 | Tax withholding | −6,162 | $23.71 | $146.10K | 148,589 |
| David D. Nelson CEO & PRESIDENT, Director | Mar 25, 2026 | Tax withholding | −6,811 | $23.71 | $161.49K | 117,340 |
| Jane M. Funk CFO | Mar 25, 2026 | Tax withholding | −6,033 | $23.71 | $143.04K | 71,517 |
| Harlee Olafson CHIEF RISK OFFICER | Feb 23, 2026 | Award | +15,000 | – | – | 143,001 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 23, 2026 | Award | +17,000 | – | – | 124,966 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Feb 23, 2026 | Award | +15,000 | – | – | 155,470 |
| Bradley P. Peters Executive Vice President | Feb 23, 2026 | Award | +15,000 | – | – | 93,354 |
| Jane M. Funk CFO | Feb 23, 2026 | Award | +15,000 | – | – | 78,269 |
| James Noyce Director | Feb 17, 2026 | Gift | −1,000 | – | – | 1,800 |
| George D. Milligan Director | Nov 24, 2025 | Sale | −10,000 | $21.71 | $217.10K | 53,195 |
| George D. Milligan Director | Nov 21, 2025 | Sale | −5,826 | $22.00 | $128.17K | 63,195 |
| Douglas R. Gulling Director | Nov 11, 2025 | Sale | −7,900 | $21.75 | $171.83K | 72,338 |
| David D. Nelson CEO & PRESIDENT, Director | May 6, 2025 | Gift | −9,423 | – | – | 108,291 |
| David D. Nelson CEO & PRESIDENT, Director | May 6, 2025 | Gift | +9,423 | – | – | 107,457 |
| Lisa J. Elming Director | Apr 24, 2025 | Award | +1,738 | – | – | 7,618 |
| Therese M. Vaughan Director | Apr 24, 2025 | Award | +1,738 | – | – | 13,151 |
| Sean Patrick McMurray Director | Apr 24, 2025 | Award | +1,738 | – | – | 47,130 |
| Steven K. Gaer Director | Apr 24, 2025 | Award | +1,738 | – | – | 24,021 |
| Douglas R. Gulling Director | Apr 24, 2025 | Award | +1,738 | – | – | 80,238 |
| Rosemary Parson Director | Apr 24, 2025 | Award | +1,738 | – | – | 6,718 |
| George D. Milligan Director | Apr 24, 2025 | Award | +1,738 | – | – | 69,021 |
| James Noyce Director | Apr 24, 2025 | Award | +1,738 | – | – | 22,021 |
| Bradley P. Peters Executive Vice President | Mar 25, 2025 | Tax withholding | −5,629 | $20.02 | $112.69K | 78,614 |
| Harlee Olafson CHIEF RISK OFFICER | Mar 25, 2025 | Tax withholding | −7,335 | $20.02 | $146.85K | 128,326 |
| Jane M. Funk CFO | Mar 25, 2025 | Tax withholding | −5,238 | $20.02 | $104.86K | 63,529 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Mar 25, 2025 | Tax withholding | −6,980 | $20.02 | $139.74K | 140,795 |
| David D. Nelson CEO & PRESIDENT, Director | Mar 25, 2025 | Tax withholding | −7,152 | $20.02 | $143.18K | 117,714 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 19, 2025 | Buy | +639 | $22.27 | $14.23K | 124,866 |
| Brad L. Winterbottom EXECUTIVE VICE PRESIDENT | Feb 17, 2025 | Award | +15,000 | – | – | 147,775 |
| Harlee Olafson CHIEF RISK OFFICER | Feb 17, 2025 | Award | +15,000 | – | – | 135,661 |
| Jane M. Funk CFO | Feb 17, 2025 | Award | +15,000 | – | – | 68,767 |
| David D. Nelson CEO & PRESIDENT, Director | Feb 17, 2025 | Award | +17,000 | – | – | 124,227 |
| Bradley P. Peters Executive Vice President | Feb 17, 2025 | Award | +15,000 | – | – | 84,243 |
| David D. Nelson CEO & PRESIDENT, Director | Nov 20, 2024 | Buy | +592 | $23.79 | $14.08K | 107,227 |
| Douglas R. Gulling Director | Nov 15, 2024 | Gift | −2,209 | – | – | 78,500 |
| Douglas R. Gulling Director | Nov 8, 2024 | Sale | −3,603 | $23.60 | $85.03K | 80,709 |
| Douglas R. Gulling Director | Nov 8, 2024 | Sale | −397 | $23.72 | $9.42K | 84,312 |
| Douglas R. Gulling Director | Nov 4, 2024 | Discretionary | −2 | $21.39 | $43 | 84,709 |
| David D. Nelson CEO & PRESIDENT, Director | Aug 21, 2024 | Buy | +730 | $19.04 | $13.90K | 106,635 |
| Patrick J. Donovan Director | Aug 19, 2024 | Returned to company | −1,945 | – | – | 5,250 |
| David D. Nelson CEO & PRESIDENT, Director | May 22, 2024 | Buy | +768 | $17.87 | $13.72K | 105,905 |
| Therese M. Vaughan Director | Apr 26, 2024 | Award | +1,945 | – | – | 11,413 |
| George D. Milligan Director | Apr 26, 2024 | Award | +1,945 | – | – | 67,283 |
| Steven K. Gaer Director | Apr 26, 2024 | Award | +1,945 | – | – | 22,283 |
| Lisa J. Elming Director | Apr 26, 2024 | Award | +1,945 | – | – | 5,880 |
| Steven T. Schuler Director | Apr 26, 2024 | Award | +1,945 | – | – | 16,195 |
| James Noyce Director | Apr 26, 2024 | Award | +1,945 | – | – | 20,283 |
| Rosemary Parson Director | Apr 26, 2024 | Award | +1,945 | – | – | 4,980 |
| Sean Patrick McMurray Director | Apr 26, 2024 | Award | +1,945 | – | – | 45,392 |
| Philip Jason Worth Director | Apr 26, 2024 | Award | +1,945 | – | – | 20,089 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
2.26%
0M shares short
Days to cover
6.4
At 0M shares a day
Change since last report
-3.2%
From 0M shares
Short volume, 20 days
56.2%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of West Bancorporation's stock actually held short. Settlement fails (shares not delivered on time) peaked at 750 shares on Sep 17, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| George D. Milligan Director | Dec 5, 2025 | 15,826 | $344.26K | Nov 21, 2025 | OPEN MARKET BROKER PURCHASE |
| Douglas R. Gulling Officer | Nov 12, 2025 | 7,900 | $172.77K | Nov 11, 2025 | vesting of restricted stock units |
| Douglas R. Gulling Director | Nov 8, 2024 | 4,000 | $95.00K | Nov 8, 2024 | Purchased in 401K Plan with contributions to 401(k) |
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