Nordea Investment Management AB Buys 2,632 Shares of Western Alliance Bancorporation (NYSE:WAL)

Nordea Investment Management AB grew its position in Western Alliance Bancorporation (NYSE:WAL) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,012 shares of the financial services provider’s stock after purchasing an additional 2,632 shares during the quarter. Nordea Investment Management AB owned about 0.08% of Western Alliance Bancorporation worth $7,395,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of Western Alliance Bancorporation by 12.5% in the second quarter. Commonwealth Equity Services LLC now owns 10,295 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 1,146 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Western Alliance Bancorporation by 2.5% in the second quarter. Arizona State Retirement System now owns 29,302 shares of the financial services provider’s stock valued at $1,841,000 after buying an additional 720 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in Western Alliance Bancorporation during the second quarter worth approximately $188,000. Choreo LLC bought a new stake in shares of Western Alliance Bancorporation during the 2nd quarter valued at $637,000. Finally, William Blair Investment Management LLC grew its holdings in shares of Western Alliance Bancorporation by 0.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,813,823 shares of the financial services provider’s stock worth $176,764,000 after purchasing an additional 20,876 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WAL shares. Deutsche Bank Aktiengesellschaft upgraded shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $101.00 in a research note on Monday, October 7th. Truist Financial lowered their price objective on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Wedbush boosted their price target on Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays raised their price target on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $80.63 on Friday. The company has a market capitalization of $8.87 billion, a PE ratio of 12.44, a P/E/G ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The company has a 50 day simple moving average of $88.52 and a two-hundred day simple moving average of $81.69.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. Research analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.38 per share. This is an increase from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 23.46%.

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.