Thrivent Financial for Lutherans Cuts Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Thrivent Financial for Lutherans trimmed its position in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,275,240 shares of the financial services provider's stock after selling 66,666 shares during the quarter. Thrivent Financial for Lutherans owned approximately 2.07% of Western Alliance Bancorporation worth $190,074,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 period. Fifth Third Bancorp lifted its stake in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after acquiring an additional 136 shares during the period. Allworth Financial LP lifted its stake in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock worth $37,000 after acquiring an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new position in shares of Western Alliance Bancorporation in the fourth quarter worth approximately $44,000. 79.15% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms recently commented on WAL. Piper Sandler lifted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. StockNews.com raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. UBS Group began coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a "buy" rating and a $115.00 price objective on the stock. Stephens reiterated an "overweight" rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of "Moderate Buy" and an average price target of $98.07.

Western Alliance Bancorporation Stock Up 1.0 %

Shares of NYSE WAL traded up $0.78 during midday trading on Friday, hitting $77.39. 2,011,051 shares of the stock traded hands, compared to its average volume of 1,153,873. The company has a market cap of $8.55 billion, a PE ratio of 10.90, a P/E/G ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The business has a 50 day moving average price of $85.08 and a two-hundred day moving average price of $85.96. 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 (NYSE:WAL - Get Free Report) last announced its 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 analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

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