Handelsbanken Fonder AB Buys 5,200 Shares of Western Alliance Bancorporation (NYSE:WAL)

Handelsbanken Fonder AB increased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,960 shares of the financial services provider's stock after acquiring an additional 5,200 shares during the period. Handelsbanken Fonder AB's holdings in Western Alliance Bancorporation were worth $2,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp grew its position in Western Alliance Bancorporation by 70.1% in 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. Versant Capital Management Inc grew its position 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 purchasing an additional 157 shares in the last quarter. Pacer Advisors Inc. grew 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 worth $1,359,000 after purchasing an additional 163 shares in the last quarter. CIBC Asset Management Inc grew its position in Western Alliance Bancorporation by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock worth $283,000 after purchasing an additional 167 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $44,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 79.15% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WAL shares. Stephens reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. 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 report on Wednesday, January 29th. UBS Group started coverage on shares of Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a "buy" rating and a $115.00 target price for the company. Piper Sandler increased their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com raised shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.07.

Western Alliance Bancorporation Trading Up 1.0 %

Shares of WAL stock traded up $0.84 on Friday, hitting $87.00. 1,044,735 shares of the company's stock traded hands, compared to its average volume of 1,204,451. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company's fifty day simple moving average is $86.80 and its 200 day simple moving average is $86.13. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.63 and a beta of 1.46.

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

Western Alliance Bancorporation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

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.