Nordea Investment Management AB Has $7.40 Million Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Nordea Investment Management AB raised its position in Western Alliance Bancorporation (NYSE:WAL) by 3.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 88,012 shares of the financial services provider’s stock after acquiring an additional 2,632 shares during the period. Nordea Investment Management AB’s holdings in Western Alliance Bancorporation were worth $7,395,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in Western Alliance Bancorporation during the 3rd quarter worth approximately $33,000. UMB Bank n.a. lifted its holdings in shares of Western Alliance Bancorporation by 136.8% in the third quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 249 shares in the last quarter. Blue Trust Inc. grew its holdings in Western Alliance Bancorporation by 58.4% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock worth $44,000 after buying an additional 187 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 397 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group began coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised Western Alliance Bancorporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company lowered their target price on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Truist Financial decreased their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average target price of $94.31.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL opened at $80.63 on Friday. The firm has a market capitalization of $8.87 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.41 and a beta of 1.46. 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 stock’s 50-day simple moving average is $88.52 and its two-hundred day simple moving average is $81.69. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. The company had revenue of $833.10 million during the quarter, compared to the consensus estimate of $811.40 million. As a group, equities analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current fiscal year.

Western Alliance Bancorporation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 15th. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Western Alliance Bancorporation’s dividend payout ratio is 23.46%.

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.