Western Alliance Bancorporation (NYSE:WAL) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in Western Alliance Bancorporation (NYSE:WAL) by 39.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,962,156 shares of the financial services provider’s stock after acquiring an additional 1,128,782 shares during the quarter. Thrivent Financial for Lutherans owned approximately 3.62% of Western Alliance Bancorporation worth $140,815,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WAL. State Street Corp lifted its holdings in Western Alliance Bancorporation by 44.4% in the first quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock valued at $144,167,000 after acquiring an additional 1,246,855 shares during the period. Norges Bank acquired a new position in Western Alliance Bancorporation in the fourth quarter valued at approximately $68,940,000. Alyeska Investment Group L.P. acquired a new position in Western Alliance Bancorporation in the first quarter valued at approximately $32,430,000. Wellington Management Group LLP lifted its holdings in Western Alliance Bancorporation by 21.5% in the first quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock valued at $411,724,000 after acquiring an additional 880,430 shares during the period. Finally, ING Groep NV acquired a new position in Western Alliance Bancorporation in the first quarter valued at approximately $15,638,000. 72.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WAL has been the subject of a number of analyst reports. Wedbush boosted their price target on Western Alliance Bancorporation from $45.00 to $50.00 in a report on Wednesday, July 19th. UBS Group boosted their price objective on Western Alliance Bancorporation from $61.00 to $66.00 in a research report on Thursday, July 20th. Stephens restated an “overweight” rating and issued a $65.00 price objective on shares of Western Alliance Bancorporation in a research report on Wednesday, July 19th. Piper Sandler restated an “overweight” rating and issued a $60.00 price objective on shares of Western Alliance Bancorporation in a research report on Friday, August 25th. Finally, StockNews.com began coverage on Western Alliance Bancorporation in a research report on Thursday, August 17th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average price target of $55.43.

Western Alliance Bancorporation Stock Up 2.3 %

Shares of NYSE:WAL opened at $49.11 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 1.94. The business has a fifty day moving average of $47.69 and a two-hundred day moving average of $41.61. The stock has a market cap of $5.38 billion, a P/E ratio of 5.90, a PEG ratio of 0.57 and a beta of 1.42. Western Alliance Bancorporation has a 52-week low of $7.46 and a 52-week high of $81.17.

Western Alliance Bancorporation (NYSE:WAL) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.01). The company had revenue of $669.30 million during the quarter, compared to analysts’ expectations of $657.14 million. Western Alliance Bancorporation had a net margin of 24.19% and a return on equity of 20.09%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 earnings per share. On average, research analysts expect that Western Alliance Bancorporation will post 8.11 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, August 10th. Western Alliance Bancorporation’s payout ratio is currently 17.29%.

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.