Danske Bank A S Sells 12,223 Shares of Western Alliance Bancorporation $WAL

Danske Bank A S trimmed its holdings in Western Alliance Bancorporation (NYSE:WAL) by 91.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the financial services provider’s stock after selling 12,223 shares during the quarter. Danske Bank A S’s holdings in Western Alliance Bancorporation were worth $101,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Western Alliance Bancorporation by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock valued at $318,655,000 after purchasing an additional 58,535 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Western Alliance Bancorporation by 3.5% in the third quarter. William Blair Investment Management LLC now owns 2,394,722 shares of the financial services provider’s stock worth $207,670,000 after buying an additional 81,386 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Western Alliance Bancorporation in the third quarter worth about $13,339,000. M&T Bank Corp boosted its stake in Western Alliance Bancorporation by 7,920.9% during the fourth quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock valued at $26,535,000 after buying an additional 311,689 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its stake in Western Alliance Bancorporation by 42.4% during the third quarter. MidWestOne Financial Group Inc. now owns 36,559 shares of the financial services provider’s stock valued at $3,170,000 after buying an additional 10,887 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $83.52 on Thursday. The business’s 50 day moving average price is $75.62 and its 200-day moving average price is $81.66. Western Alliance Bancorporation has a fifty-two week low of $65.82 and a fifty-two week high of $97.23. The company has a market cap of $9.08 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.62 and a beta of 1.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The business had revenue of $968.40 million for the quarter, compared to analysts’ expectations of $944.18 million. During the same quarter in the previous year, the business posted $1.79 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. Sell-side analysts predict that Western Alliance Bancorporation will post 9.92 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is 19.56%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WAL shares. Jefferies Financial Group reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday, March 6th. Piper Sandler cut their target price on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Barclays reduced their price target on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Citigroup decreased their price target on shares of Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, DA Davidson reiterated a “buy” rating and set a $93.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.14.

About Western Alliance Bancorporation

Western Alliance Bancorporation is a bank holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Western Alliance Bank, the company provides a range of banking services to commercial clients, entrepreneurs and real estate developers. As one of the largest regional banks in the western United States, it focuses on relationship-driven banking solutions tailored to niche industries and growing businesses.

The company’s core offerings include deposit products, treasury management and a variety of lending services.