DNB Asset Management AS Purchases 12,122 Shares of Western Alliance Bancorporation $WAL

DNB Asset Management AS increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,084 shares of the financial services provider’s stock after purchasing an additional 12,122 shares during the period. DNB Asset Management AS’s holdings in Western Alliance Bancorporation were worth $18,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WAL. NewEdge Advisors LLC increased its position in shares of Western Alliance Bancorporation by 71.2% during the first quarter. NewEdge Advisors LLC now owns 7,815 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 3,249 shares during the period. Jones Financial Companies Lllp increased its position in shares of Western Alliance Bancorporation by 513.5% during the first quarter. Jones Financial Companies Lllp now owns 1,730 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,448 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Western Alliance Bancorporation by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 111,883 shares of the financial services provider’s stock valued at $8,596,000 after purchasing an additional 21,642 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Western Alliance Bancorporation by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,529 shares of the financial services provider’s stock valued at $26,701,000 after purchasing an additional 35,276 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Western Alliance Bancorporation by 11.3% in the 2nd quarter. Cetera Investment Advisers now owns 7,017 shares of the financial services provider’s stock valued at $547,000 after buying an additional 713 shares in the last quarter. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $74.41 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.86. The firm has a market cap of $8.12 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.57 and a beta of 1.37. The business’s fifty day moving average is $74.69 and its two-hundred day moving average is $81.68. Western Alliance Bancorporation has a 52 week low of $65.82 and a 52 week high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $968.40 million for the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a return on equity of 13.58% and a net margin of 17.03%.The business’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.79 earnings per share. Equities research analysts forecast that Western Alliance Bancorporation will post 9.89 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.3%. Western Alliance Bancorporation’s payout ratio is currently 19.56%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WAL shares. Wells Fargo & Company raised Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $83.00 to $79.00 in a research note on Monday, March 9th. Jefferies Financial Group reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. TD Cowen lowered Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a research note on Monday, March 9th. Citigroup decreased their price target on Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Barclays decreased their price target on Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.93.

Western Alliance Bancorporation Company Profile

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.