Northwestern Mutual Wealth Management Co. Acquires 18,112 Shares of Western Alliance Bancorporation $WAL

Northwestern Mutual Wealth Management Co. raised its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2,313.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,895 shares of the financial services provider’s stock after purchasing an additional 18,112 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Western Alliance Bancorporation were worth $1,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ritholtz Wealth Management boosted its stake in Western Alliance Bancorporation by 4.6% in the fourth quarter. Ritholtz Wealth Management now owns 3,030 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 133 shares during the last quarter. Truist Financial Corp boosted its stake in Western Alliance Bancorporation by 5.2% in the fourth quarter. Truist Financial Corp now owns 3,102 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 152 shares during the last quarter. Allworth Financial LP boosted its stake in Western Alliance Bancorporation by 39.3% in the fourth quarter. Allworth Financial LP now owns 557 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 157 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Western Alliance Bancorporation by 6.1% during the fourth quarter. GAMMA Investing LLC now owns 2,732 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 158 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Western Alliance Bancorporation by 10.0% during the fourth quarter. Signaturefd LLC now owns 1,899 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 173 shares in the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Trading Down 1.4%

WAL opened at $78.49 on Thursday. The stock has a market capitalization of $8.57 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.60 and a beta of 1.37. Western Alliance Bancorporation has a 12 month low of $65.82 and a 12 month high of $97.23. The firm’s fifty day simple moving average is $75.70 and its 200 day simple moving average is $81.73. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. The business had revenue of $968.40 million for the quarter, compared to analysts’ expectations of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 EPS. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.87 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 14th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, May 14th. Western Alliance Bancorporation’s payout ratio is currently 19.56%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. iA Financial set a $101.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, January 28th. UBS Group lifted their price target on shares of Western Alliance Bancorporation from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. DA Davidson reduced their price target on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. TD Cowen cut shares of Western Alliance Bancorporation from a “buy” rating to a “hold” rating and set a $83.00 price target on the stock. in a research report on Monday, March 9th. Finally, Wells Fargo & Company raised shares of Western Alliance Bancorporation from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $83.00 to $79.00 in a research report on Monday, March 9th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Western Alliance Bancorporation has an average rating of “Moderate Buy” and a consensus target price of $92.93.

Western Alliance Bancorporation Profile

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.