Norden Group LLC Purchases Shares of 8,704 Western Alliance Bancorporation (NYSE:WAL)

Norden Group LLC purchased a new stake in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,704 shares of the financial services provider’s stock, valued at approximately $727,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WAL. Smartleaf Asset Management LLC raised its holdings in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Western Alliance Bancorporation by 70.1% in the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares in the last quarter. Allworth Financial LP increased its position in shares of Western Alliance Bancorporation by 115.6% during the 4th quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Covestor Ltd increased its position in shares of Western Alliance Bancorporation by 167.5% during the 3rd quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 397 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Western Alliance Bancorporation by 338.1% during the 4th quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Analysts Set New Price Targets

WAL has been the topic of several recent research reports. Barclays increased their price objective on Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Stephens reiterated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research report on Tuesday, January 28th. Wells Fargo & Company reduced 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 report on Monday, January 6th. UBS Group began coverage on Western Alliance Bancorporation in a research report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price objective on the stock. Finally, DA Davidson cut their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and an average price target of $98.07.

Western Alliance Bancorporation Trading Down 3.3 %

WAL opened at $84.04 on Tuesday. The business has a 50 day moving average of $86.79 and a 200-day moving average of $86.34. The stock has a market cap of $9.28 billion, a PE ratio of 11.84, a PEG ratio of 0.63 and a beta of 1.46. Western Alliance Bancorporation has a 52 week low of $53.75 and a 52 week high of $98.10. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

Western Alliance Bancorporation (NYSE:WAL) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. Equities research analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is 21.41%.

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.