Norden Group LLC Takes Position in Western Alliance Bancorporation (NYSE:WAL)

Norden Group LLC bought a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,704 shares of the financial services provider's stock, valued at approximately $727,000.

A number of other institutional investors have also made changes to their positions in WAL. Smartleaf Asset Management LLC lifted its holdings in Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after purchasing an additional 136 shares during the period. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% in the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after purchasing an additional 215 shares during the last quarter. Covestor Ltd boosted its position 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 purchasing an additional 397 shares during the period. Finally, Principal Securities Inc. grew its stake in Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider's stock worth $57,000 after buying an additional 524 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors.

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Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $1.16 during midday trading on Friday, reaching $77.36. The company's stock had a trading volume of 1,647,061 shares, compared to its average volume of 1,213,101. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. The company has a 50 day moving average price of $86.53 and a 200 day moving average price of $86.27. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

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

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.38 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Western Alliance Bancorporation's dividend payout ratio (DPR) is 21.41%.

Wall Street Analyst Weigh In

WAL has been the subject of several analyst reports. Barclays boosted their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an "overweight" rating in a report on Friday, November 8th. DA Davidson reduced their target price on shares of 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. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. UBS Group started coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus price target of $98.07.

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.