BI Asset Management Fondsmaeglerselskab A S Invests $917,000 in Western Alliance Bancorporation (NYSE:WAL)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 13,945 shares of the financial services provider’s stock, valued at approximately $917,000.

A number of other large investors have also recently made changes to their positions in the stock. Riverwater Partners LLC grew its stake in shares of Western Alliance Bancorporation by 0.7% in the fourth quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 211 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Western Alliance Bancorporation by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock worth $2,182,000 after acquiring an additional 240 shares during the period. Arizona State Retirement System grew its stake in shares of Western Alliance Bancorporation by 1.3% in the third quarter. Arizona State Retirement System now owns 29,619 shares of the financial services provider’s stock worth $1,362,000 after acquiring an additional 370 shares during the period. Principal Financial Group Inc. grew its stake in shares of Western Alliance Bancorporation by 5.5% in the third quarter. Principal Financial Group Inc. now owns 8,492 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 443 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Western Alliance Bancorporation by 49.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,402 shares of the financial services provider’s stock valued at $92,000 after buying an additional 462 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

WAL stock opened at $64.36 on Thursday. Western Alliance Bancorporation has a one year low of $33.19 and a one year high of $70.23. The company’s fifty day moving average price is $60.65 and its 200-day moving average price is $59.39. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.87 and a current ratio of 0.90. The company has a market capitalization of $7.09 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.77%. During the same quarter in the prior year, the firm earned $2.30 earnings per share. On average, equities analysts anticipate that Western Alliance Bancorporation will post 7.44 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, May 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Truist Financial cut their target price on shares of Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com lowered shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. DA Davidson cut their target price on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Citigroup boosted their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.47.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.