Handelsbanken Fonder AB Has $2.17 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

Handelsbanken Fonder AB boosted its stake in Western Alliance Bancorporation (NYSE:WAL) by 25.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,960 shares of the financial services provider’s stock after buying 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 reporting period.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp boosted its stake in 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 purchasing an additional 136 shares in the last quarter. Allworth Financial LP increased its holdings in Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Blue Trust Inc. increased its holdings in Western Alliance Bancorporation by 58.4% in the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 187 shares during the last quarter. Covestor Ltd increased its holdings in Western Alliance Bancorporation by 167.5% in the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares during the last quarter. Finally, Principal Securities Inc. raised its position in shares of Western Alliance Bancorporation by 338.1% during the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $85.35 on Wednesday. Western Alliance Bancorporation has a 12 month low of $53.75 and a 12 month high of $98.10. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.63 and a beta of 1.46. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $86.64 and its 200 day simple moving average is $86.03.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings results 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%. Sell-side analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, February 14th. Western Alliance Bancorporation’s payout ratio is presently 21.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group assumed coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They set a “buy” rating and a $115.00 price target on the stock. Stephens restated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Sandler lifted their target price 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. Finally, Wells Fargo & Company reduced their price target on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Two equities 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, the company presently has an average rating of “Moderate Buy” and a consensus 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.