BNP Paribas Financial Markets Has $2.95 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

BNP Paribas Financial Markets grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 1,091.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,073 shares of the financial services provider’s stock after buying an additional 31,214 shares during the period. BNP Paribas Financial Markets’ holdings in Western Alliance Bancorporation were worth $2,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WAL. FMR LLC raised its holdings in shares of Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock valued at $241,568,000 after purchasing an additional 1,347,921 shares during the period. LHM Inc. boosted its holdings in Western Alliance Bancorporation by 2,141.1% in the 2nd quarter. LHM Inc. now owns 757,809 shares of the financial services provider’s stock worth $47,606,000 after buying an additional 723,995 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Western Alliance Bancorporation by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,722,389 shares of the financial services provider’s stock valued at $233,832,000 after acquiring an additional 636,577 shares during the period. Principal Financial Group Inc. increased its stake in Western Alliance Bancorporation by 6,342.7% in the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after acquiring an additional 506,778 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Western Alliance Bancorporation in the 3rd quarter worth approximately $38,386,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on WAL shares. Truist Financial reduced their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $102.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Wells Fargo & Company raised their target price on shares of Western Alliance Bancorporation from $92.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Finally, Barclays boosted their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.40.

Insider Activity at Western Alliance Bancorporation

In other Western Alliance Bancorporation news, Director Robert P. Latta sold 2,996 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the completion of the sale, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 42.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.75% of the stock is owned by corporate insiders.

Western Alliance Bancorporation Trading Down 0.4 %

NYSE:WAL opened at $91.96 on Friday. The company has a market cap of $10.12 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.45. Western Alliance Bancorporation has a 12 month low of $53.57 and a 12 month high of $98.10. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $88.28 and a two-hundred day simple moving average of $77.37.

Western Alliance Bancorporation (NYSE:WAL) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The business had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Research analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.38 per share. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.65%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

About Western Alliance Bancorporation

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.