Nordea Investment Management AB Has $6.71 Million Position in Western Alliance Bancorporation $WAL

Nordea Investment Management AB lessened its holdings in Western Alliance Bancorporation (NYSE:WAL) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,916 shares of the financial services provider’s stock after selling 12,216 shares during the quarter. Nordea Investment Management AB owned approximately 0.07% of Western Alliance Bancorporation worth $6,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Western Alliance Bancorporation in the 2nd quarter valued at approximately $137,289,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Western Alliance Bancorporation by 36.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after purchasing an additional 1,599,537 shares during the period. Perpetual Ltd acquired a new position in shares of Western Alliance Bancorporation during the third quarter worth $31,072,000. Bank of Montreal Can grew its stake in shares of Western Alliance Bancorporation by 35.8% in the third quarter. Bank of Montreal Can now owns 1,179,518 shares of the financial services provider’s stock worth $102,288,000 after purchasing an additional 310,826 shares during the last quarter. Finally, Global Frontier Investments LLC acquired a new stake in Western Alliance Bancorporation in the second quarter valued at $22,224,000. 79.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WAL shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $105.00 target price (up from $100.00) on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price target on Western Alliance Bancorporation from $98.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. TD Cowen downgraded Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price objective for the company. in a research report on Monday, March 9th. iA Financial set a $101.00 price objective on Western Alliance Bancorporation in a research note on Wednesday, January 28th. Finally, Barclays reduced their target price on Western Alliance Bancorporation from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Western Alliance Bancorporation presently has an average rating of “Moderate Buy” and an average price target of $97.73.

Western Alliance Bancorporation Stock Performance

Shares of WAL opened at $70.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $83.53 and its two-hundred day simple moving average is $83.45. Western Alliance Bancorporation has a 12 month low of $57.05 and a 12 month high of $97.23. The stock has a market capitalization of $7.70 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.34.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.19. The firm had revenue of $890.80 million during the quarter, compared to analyst estimates of $912.69 million. Western Alliance Bancorporation had a return on equity of 13.33% and a net margin of 18.04%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted $1.95 EPS. As a group, analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 20th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, February 20th. Western Alliance Bancorporation’s payout ratio is presently 19.24%.

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.