DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Takes Position in Western Alliance Bancorporation (NYSE:WAL)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 87,496 shares of the financial services provider's stock, valued at approximately $7,309,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.08% of Western Alliance Bancorporation as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Western Alliance Bancorporation during the 4th quarter worth about $109,298,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Western Alliance Bancorporation by 55.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,814,745 shares of the financial services provider's stock worth $151,604,000 after acquiring an additional 648,983 shares during the period. Principal Financial Group Inc. lifted its position in Western Alliance Bancorporation by 6,342.7% during the 3rd quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider's stock worth $44,522,000 after acquiring an additional 506,778 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Western Alliance Bancorporation by 973.1% in the fourth quarter. Bank of Montreal Can now owns 421,822 shares of the financial services provider's stock worth $35,239,000 after purchasing an additional 382,513 shares during the period. Finally, Global Frontier Investments LLC acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter worth approximately $23,809,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WAL shares. Royal Bank of Canada reduced their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler boosted their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. StockNews.com downgraded Western Alliance Bancorporation from a "hold" rating to a "sell" rating in a report on Monday. Stephens reissued an "overweight" rating and issued a $92.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, April 22nd. Finally, DA Davidson lowered their price target on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.38.

Western Alliance Bancorporation Price Performance

NYSE:WAL traded up $0.69 during mid-day trading on Tuesday, reaching $79.89. 1,141,965 shares of the company were exchanged, compared to its average volume of 1,221,669. Western Alliance Bancorporation has a 12 month low of $56.70 and a 12 month high of $98.10. The stock has a market cap of $8.82 billion, a PE ratio of 11.25, a PEG ratio of 0.63 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $71.57 and a 200 day moving average of $82.24.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The firm had revenue of $790.10 million during the quarter, compared to analysts' expectations of $792.25 million. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. During the same quarter in the previous year, the company posted $1.72 EPS. On average, research analysts anticipate that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 1.90%. Western Alliance Bancorporation's dividend payout ratio is currently 20.85%.

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.