Is WSBF or WTBA more undervalued in 2026?

CirclFi compares Waterstone Financial, Inc. (WSBF) and West Bancorporation (WTBA) using 13 institutional-grade valuation models. WSBF has a Quality of Company score of 6.6/10 while WTBA scores 8.3/10.

Which is a better buy — WSBF or WTBA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do WSBF and WTBA valuations compare?

WSBF at $18.68 and WTBA at $23.96 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

WSBF vs WTBA Valuation Comparison 2026 — Intrinsic Value Analysis

WSBF

Banks - Regional

Waterstone Financial, Inc.

Quality

6.6

out of 10

Value Trap

LOW

Price

$18.68

Last close

Models

13/13

Active

WTBA

Banks - Regional

West Bancorporation

Quality

8.3

out of 10

Value Trap

—

Price

$23.96

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	WSBF Fair Value	WSBF Upside	WTBA Fair Value	WTBA Upside
Bayesian DCF	Intrinsic	$36.84	+97.2%	$28.16	+17.5%
Earnings Power Value	Intrinsic	$5.65	-68.8%	$45.74	+90.9%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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WSBF vs WTBA — Which Stock Is More Undervalued?

WTBA scores higher with a 8.3/10 quality rating vs WSBF's 6.6/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Waterstone Financial, Inc. (WSBF) and West Bancorporation (WTBA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

WSBF currently trades at $18.68 with a QOC of 6.6/10, while WTBA trades at $23.96 with a QOC of 8.3/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).