National Bank of Canada FI Decreases Position in Western Alliance Bancorporation (NYSE:WAL)

National Bank of Canada FI reduced its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 38.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 884 shares of the financial services provider’s stock after selling 551 shares during the quarter. National Bank of Canada FI’s holdings in Western Alliance Bancorporation were worth $76,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in Western Alliance Bancorporation in the 3rd quarter worth $31,000. ORG Wealth Partners LLC acquired a new position in shares of Western Alliance Bancorporation in the third quarter worth about $33,000. UMB Bank n.a. boosted its holdings in 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 during the last quarter. Blue Trust Inc. boosted its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Western Alliance Bancorporation during the 2nd quarter valued at approximately $54,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on WAL. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their target price for the company from $83.00 to $101.00 in a research note on Monday, October 7th. Wedbush boosted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Barclays boosted their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Western Alliance Bancorporation Stock Performance

WAL opened at $88.27 on Wednesday. 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 business’s 50 day moving average is $89.32 and its 200-day moving average is $79.12. The stock has a market cap of $9.72 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. 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 announced its earnings results on Thursday, October 17th. The financial services provider reported $1.80 earnings per share 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. On average, analysts predict that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a yield of 1.72%. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio is presently 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.