Swiss National Bank Acquires 4,600 Shares of Western Alliance Bancorporation (NYSE:WAL)

Posted by Defense World Staff on May 14th, 2023

Swiss National Bank lifted its holdings in Western Alliance Bancorporation (NYSE:WAL – Get Rating) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,400 shares of the financial services provider’s stock after purchasing an additional 4,600 shares during the quarter. Swiss National Bank owned 0.24% of Western Alliance Bancorporation worth $15,569,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $26,000. IFP Advisors Inc lifted its position in shares of Western Alliance Bancorporation by 106.4% in the third quarter. IFP Advisors Inc now owns 646 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 333 shares in the last quarter. Ronald Blue Trust Inc. raised its position in Western Alliance Bancorporation by 106.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 672 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in Western Alliance Bancorporation during the first quarter worth $64,000. Finally, Canada Pension Plan Investment Board raised its position in Western Alliance Bancorporation by 436.9% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 651 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler dropped their price target on shares of Western Alliance Bancorporation from $62.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, April 20th. Hovde Group dropped their price target on shares of Western Alliance Bancorporation from $65.00 to $55.00 in a research report on Thursday, April 6th. DA Davidson dropped their price target on shares of Western Alliance Bancorporation from $77.00 to $57.50 and set a “buy” rating on the stock in a research report on Thursday, April 20th. UBS Group upped their price objective on shares of Western Alliance Bancorporation from $62.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, April 20th. Finally, Truist Financial upped their price objective on shares of Western Alliance Bancorporation from $50.00 to $65.00 in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Western Alliance Bancorporation currently has a consensus rating of “Moderate Buy” and an average target price of $59.68.

Western Alliance Bancorporation Trading Up 2.1 %

WAL stock opened at $27.47 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.98 and a current ratio of 1.00. The company’s 50-day simple moving average is $35.87 and its 200 day simple moving average is $56.46. Western Alliance Bancorporation has a 52 week low of $7.46 and a 52 week high of $86.87. The company has a market capitalization of $3.01 billion, a PE ratio of 3.14, a price-to-earnings-growth ratio of 0.33 and a beta of 1.36.

Western Alliance Bancorporation (NYSE:WAL – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.01). The firm had revenue of $910.90 million for the quarter, compared to analyst estimates of $648.39 million. Western Alliance Bancorporation had a return on equity of 22.19% and a net margin of 28.75%. During the same quarter in the previous year, the company earned $2.22 earnings per share. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 8.23 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.44 dividend on an annualized basis and a yield of 5.24%. Western Alliance Bancorporation’s payout ratio is 16.44%.

Insiders Place Their Bets

In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 1,750 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $73.16, for a total transaction of $128,030.00. Following the sale, the insider now directly owns 20,244 shares in the company, valued at $1,481,051.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Western Alliance Bancorporation news, insider Tim R. Bruckner sold 1,750 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $73.16, for a total transaction of $128,030.00. Following the sale, the insider now directly owns 20,244 shares in the company, valued at $1,481,051.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marianne Boyd Johnson bought 2,475 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $25.79 per share, with a total value of $63,830.25. Following the acquisition, the director now directly owns 2,475 shares of the company’s stock, valued at approximately $63,830.25. The disclosure for this purchase can be found here. Corporate insiders own 2.57% of the company’s stock.

Western Alliance Bancorporation Profile

(Get Rating)

Western Alliance Bancorp is a bank holding company, which engages in the provision of deposit, lending, treasury management, international banking, and online banking products and services. It operates through the following business segments: Commercial, Consumer Related, and Corporate and Other. The Commercial segment focuses on delivering commercial banking and treasury management products and services to small and middle-market businesses, specialized banking services to sophisticated commercial institutions and investors within niche industries, as well as financial services to the real estate industry.