DnB Asset Management AS Acquires 36,984 Shares of Western Alliance Bancorporation (NYSE:WAL)

DnB Asset Management AS increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,687 shares of the financial services provider's stock after acquiring an additional 36,984 shares during the period. DnB Asset Management AS owned about 0.18% of Western Alliance Bancorporation worth $16,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its position in Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Fifth Third Bancorp raised its stake 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 in the last quarter. Allworth Financial LP lifted its holdings in shares of Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $44,000. 79.15% of the stock is currently owned by institutional investors and hedge funds.

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Western Alliance Bancorporation Stock Performance

WAL stock traded up $1.78 on Wednesday, reaching $77.49. 207,703 shares of the company were exchanged, compared to its average volume of 1,163,775. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.85 and a quick ratio of 0.82. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The stock's fifty day moving average price is $83.85 and its 200 day moving average price is $85.96. The firm has a market capitalization of $8.56 billion, a PE ratio of 10.91, a PEG ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced 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, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation's payout ratio is presently 21.41%.

Wall Street Analysts Forecast Growth

WAL has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. DA Davidson lowered their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Stephens reiterated an "overweight" rating and set a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation 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.