Western Alliance Bancorporation $WAL Shares Acquired by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG grew its position in Western Alliance Bancorporation (NYSE:WAL) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,398 shares of the financial services provider’s stock after acquiring an additional 7,924 shares during the quarter. B. Metzler seel. Sohn & Co. AG owned about 0.05% of Western Alliance Bancorporation worth $4,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WAL. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $890,000. Natixis Advisors LLC lifted its holdings in Western Alliance Bancorporation by 11.1% in the 3rd quarter. Natixis Advisors LLC now owns 315,052 shares of the financial services provider’s stock valued at $27,321,000 after purchasing an additional 31,396 shares in the last quarter. Barclays PLC boosted its stake in Western Alliance Bancorporation by 12.5% during the 3rd quarter. Barclays PLC now owns 216,719 shares of the financial services provider’s stock worth $18,794,000 after purchasing an additional 24,144 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Western Alliance Bancorporation by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,674,518 shares of the financial services provider’s stock worth $318,655,000 after purchasing an additional 58,535 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth $248,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WAL shares. DA Davidson increased their target price on shares of Western Alliance Bancorporation from $104.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. UBS Group set a $106.00 price target on shares of Western Alliance Bancorporation in a research report on Wednesday, February 4th. Jefferies Financial Group reaffirmed an “overweight” rating and set a $105.00 price objective on shares of Western Alliance Bancorporation in a research note on Friday. Truist Financial set a $98.00 price objective on shares of Western Alliance Bancorporation in a report on Friday, January 9th. Finally, National Alliance Securities reissued a “buy” rating on shares of Western Alliance Bancorporation in a research note on Friday. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.40.

Western Alliance Bancorporation Stock Down 8.4%

NYSE WAL opened at $73.94 on Monday. The business’s fifty day simple moving average is $88.58 and its 200-day simple moving average is $85.29. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The firm has a market cap of $8.12 billion, a PE ratio of 8.47, a P/E/G ratio of 0.63 and a beta of 1.34. Western Alliance Bancorporation has a 52 week low of $57.05 and a 52 week high of $97.23.

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

Western Alliance Bancorporation Announces Dividend

The company 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 annualized dividend and a yield of 2.3%. 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.