DekaBank Deutsche Girozentrale Has $228,000 Stock Position in Western Alliance Bancorporation (NYSE:WAL)

DekaBank Deutsche Girozentrale decreased its stake in shares of Western Alliance Bancorporation (NYSE:WAL) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,416 shares of the financial services provider’s stock after selling 549 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Western Alliance Bancorporation were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WAL. Vanguard Group Inc. lifted its position in Western Alliance Bancorporation by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,022,268 shares of the financial services provider’s stock valued at $460,724,000 after purchasing an additional 74,824 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Western Alliance Bancorporation by 7.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,058,243 shares of the financial services provider’s stock valued at $360,829,000 after purchasing an additional 402,614 shares during the period. BlackRock Inc. lifted its position in Western Alliance Bancorporation by 12.5% during the 2nd quarter. BlackRock Inc. now owns 5,410,343 shares of the financial services provider’s stock valued at $197,315,000 after purchasing an additional 601,129 shares during the period. Wellington Management Group LLP lifted its position in Western Alliance Bancorporation by 21.5% during the 1st quarter. Wellington Management Group LLP now owns 4,971,314 shares of the financial services provider’s stock valued at $411,724,000 after purchasing an additional 880,430 shares during the period. Finally, State Street Corp lifted its position in Western Alliance Bancorporation by 44.4% during the 1st quarter. State Street Corp now owns 4,056,477 shares of the financial services provider’s stock valued at $144,167,000 after purchasing an additional 1,246,855 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

Shares of WAL opened at $55.25 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23. The stock has a market capitalization of $6.09 billion, a P/E ratio of 8.45 and a beta of 1.47. The company has a 50 day moving average of $59.69 and a 200-day moving average of $56.33.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.02). Western Alliance Bancorporation had a net margin of 16.74% and a return on equity of 16.33%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $705.97 million. During the same quarter last year, the business earned $2.67 earnings per share. As a group, equities research analysts forecast that Western Alliance Bancorporation will post 7.88 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.68%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 22.63%.

Wall Street Analysts Forecast Growth

WAL has been the topic of a number of research reports. Citigroup upped their target price on shares of Western Alliance Bancorporation from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, January 29th. DA Davidson reiterated a “buy” rating and issued a $85.00 price target on shares of Western Alliance Bancorporation in a research report on Thursday, March 21st. Jefferies Financial Group cut their price target on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Barclays began coverage on shares of Western Alliance Bancorporation in a research report on Friday, March 8th. They issued an “overweight” rating and a $91.00 price target on the stock. Finally, Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Western Alliance Bancorporation currently has an average rating of “Moderate Buy” and an average target price of $66.60.

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.