Swiss National Bank Raises Holdings in Western Alliance Bancorporation (NYSE:WAL)

Swiss National Bank boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 205,700 shares of the financial services provider’s stock after buying an additional 1,400 shares during the quarter. Swiss National Bank’s holdings in Western Alliance Bancorporation were worth $17,184,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Western Alliance Bancorporation during the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC boosted its holdings in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp boosted its holdings in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the period. Allworth Financial LP boosted its holdings in Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 215 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 524 shares during the period. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Down 2.7 %

WAL stock opened at $75.03 on Wednesday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.29 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The business has a 50 day moving average of $85.26 and a 200 day moving average of $86.12.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WAL. Wells Fargo & Company lowered their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. UBS Group began coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler upped their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average target price of $98.07.

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.