KLP Kapitalforvaltning AS Buys Shares of 21,200 Western Alliance Bancorporation (NYSE:WAL)

KLP Kapitalforvaltning AS bought a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,200 shares of the financial services provider's stock, valued at approximately $1,771,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC lifted its position in Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 114 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the period. Versant Capital Management Inc grew its holdings in Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider's stock worth $111,000 after buying an additional 157 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Western Alliance Bancorporation by 1.0% in the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock valued at $1,359,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 79.15% of the company's stock.

Remove Ads

Analyst Ratings Changes

WAL has been the subject of several recent analyst reports. DA Davidson decreased their price target on Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price for the company. Stephens restated an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Piper Sandler upped their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.07.

Western Alliance Bancorporation Trading Down 1.6 %

Shares of NYSE WAL traded down $1.23 during mid-day trading on Tuesday, hitting $75.60. 846,316 shares of the company traded hands, compared to its average volume of 1,167,534. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1 year low of $53.75 and a 1 year high of $98.10. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.63 and a beta of 1.43. The business has a 50 day moving average of $83.85 and a two-hundred day moving average of $85.96.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's payout ratio is 21.41%.

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.