Swiss National Bank Increases Stock Holdings in Western Alliance Bancorporation (NYSE:WAL)

Swiss National Bank boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,700 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank owned about 0.19% of Western Alliance Bancorporation worth $17,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama purchased a new position in Western Alliance Bancorporation in the third quarter worth $11,461,000. Franklin Resources Inc. boosted its position in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after purchasing an additional 45,764 shares during the last quarter. New York State Common Retirement Fund boosted its position in Western Alliance Bancorporation by 9.3% in the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock worth $8,090,000 after purchasing an additional 8,201 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Western Alliance Bancorporation in the third quarter worth $5,099,000. Finally, BNP Paribas Financial Markets boosted its position in Western Alliance Bancorporation by 1,091.8% in the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after purchasing an additional 31,214 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Western Alliance Bancorporation stock opened at $75.03 on Wednesday. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The business has a 50-day simple moving average of $85.26 and a 200 day simple moving average of $86.12. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.63 and a beta of 1.43.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. On average, research analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Wall Street Analysts Forecast Growth

WAL has been the topic of several research reports. UBS Group initiated coverage on Western Alliance Bancorporation in a research note on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Company 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.