MidWestOne Financial Group Inc. Has $2.29 Million Position in Western Alliance Bancorporation (NYSE:WAL)

MidWestOne Financial Group Inc. grew its position in Western Alliance Bancorporation (NYSE:WAL) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,486 shares of the financial services provider’s stock after purchasing an additional 2,370 shares during the period. MidWestOne Financial Group Inc.’s holdings in Western Alliance Bancorporation were worth $2,291,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. M&T Bank Corp lifted its holdings in Western Alliance Bancorporation by 8.9% during the 3rd quarter. M&T Bank Corp now owns 5,626 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 460 shares during the last quarter. Barclays PLC grew its position in Western Alliance Bancorporation by 2.9% during the 3rd quarter. Barclays PLC now owns 123,412 shares of the financial services provider’s stock worth $10,674,000 after acquiring an additional 3,421 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Western Alliance Bancorporation by 196.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 920 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 610 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Western Alliance Bancorporation during the third quarter worth $359,000. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Western Alliance Bancorporation by 368.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 19,679 shares of the financial services provider’s stock valued at $1,682,000 after buying an additional 15,478 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $91.66 on Tuesday. The stock has a market cap of $10.09 billion, a PE ratio of 14.15, a P/E/G ratio of 1.47 and a beta of 1.45. 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 firm has a 50-day moving average of $88.54 and a 200-day moving average of $77.96. Western Alliance Bancorporation has a 52-week low of $53.75 and a 52-week high of $98.10.

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

Western Alliance Bancorporation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Friday, November 15th. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s payout ratio is presently 23.46%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised 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 report on Monday, October 7th. Truist Financial decreased their price objective on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price target on Western Alliance Bancorporation from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. Piper Sandler dropped their price objective on Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Finally, StockNews.com cut shares of Western Alliance Bancorporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.40.

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.