Handelsbanken Fonder AB Boosts Stake in Western Alliance Bancorporation (NYSE:WAL)

Handelsbanken Fonder AB boosted its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,760 shares of the financial services provider’s stock after buying an additional 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in Western Alliance Bancorporation were worth $1,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Riverwater Partners LLC lifted its holdings in Western Alliance Bancorporation by 0.7% during the fourth quarter. Riverwater Partners LLC now owns 29,180 shares of the financial services provider’s stock worth $1,920,000 after buying an additional 211 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Western Alliance Bancorporation by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 47,472 shares of the financial services provider’s stock valued at $2,182,000 after purchasing an additional 240 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Western Alliance Bancorporation by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 29,619 shares of the financial services provider’s stock valued at $1,362,000 after purchasing an additional 370 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Western Alliance Bancorporation by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 8,492 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 443 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Western Alliance Bancorporation by 0.4% during the 3rd quarter. New York State Common Retirement Fund now owns 108,840 shares of the financial services provider’s stock valued at $5,003,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $58.68 on Friday. The business’s 50-day moving average is $59.29 and its two-hundred day moving average is $57.03. The company has a market capitalization of $6.46 billion, a P/E ratio of 8.55 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 14.99% and a net margin of 16.50%. During the same period last year, the firm earned $2.30 EPS. Research analysts predict that Western Alliance Bancorporation will post 7.67 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, February 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.57%.

Wall Street Analyst Weigh In

WAL has been the subject of several analyst reports. Jefferies Financial Group decreased their price objective on Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating for the company in a report on Monday, April 8th. Wedbush decreased their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, April 19th. StockNews.com lowered Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Royal Bank of Canada decreased their price objective on Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.56.

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.