Danske Bank A S Decreases Stock Holdings in Western Alliance Bancorporation $WAL

Key Points

• Danske Bank A/S cut its stake in Western Alliance by 91.1% in Q4, selling 12,223 shares and retaining 1,200 shares worth about $101,000.
• Western Alliance reported a solid quarter—EPS of $2.22 vs. $1.48 expected and revenue up 31% year-over-year—and declared a $0.42 quarterly dividend (2.0% yield) payable May 29.
• Analysts have a consensus rating of “Moderate Buy” with an average price target of $93.14, based on nine Buy and five Hold ratings and individual targets roughly between $79 and $98.

Danske Bank A S lowered its stake in shares of Western Alliance Bancorporation (NYSE:WAL - Free Report) by 91.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,200 shares of the financial services provider's stock after selling 12,223 shares during the period. Danske Bank A S's holdings in Western Alliance Bancorporation were worth $101,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Salzhauer Michael boosted its holdings in Western Alliance Bancorporation by 4.1% in the fourth quarter. Salzhauer Michael now owns 46,671 shares of the financial services provider's stock worth $3,924,000 after purchasing an additional 1,856 shares during the last quarter. Harbor Advisors LLC raised its stake in Western Alliance Bancorporation by 55.6% during the 4th quarter. Harbor Advisors LLC now owns 14,000 shares of the financial services provider's stock valued at $1,177,000 after buying an additional 5,000 shares during the last quarter. Torren Management LLC bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at $59,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Western Alliance Bancorporation during the 4th quarter valued at $512,000. Finally, M&T Bank Corp boosted its stake in shares of Western Alliance Bancorporation by 19.3% in the 4th quarter. M&T Bank Corp now owns 4,696 shares of the financial services provider's stock worth $394,000 after buying an additional 761 shares during the last quarter. Hedge funds and other institutional investors own 79.15% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WAL. Truist Financial set a $98.00 target price on Western Alliance Bancorporation in a report on Friday, January 9th. DA Davidson restated a "buy" rating and set a $93.00 price target on shares of Western Alliance Bancorporation in a research note on Wednesday, April 22nd. Wells Fargo & Company upgraded shares of Western Alliance Bancorporation from an "underweight" rating to an "equal weight" rating and lowered their price objective for the stock from $83.00 to $79.00 in a research note on Monday, March 9th. Barclays reduced their target price on shares of Western Alliance Bancorporation from $90.00 to $88.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Finally, Piper Sandler dropped their price target on shares of Western Alliance Bancorporation from $94.00 to $92.00 and set an "overweight" rating on the stock in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation has a consensus rating of "Moderate Buy" and a consensus target price of $93.14.

Western Alliance Bancorporation Price Performance

Shares of NYSE:WAL opened at $83.52 on Thursday. The company has a market capitalization of $9.08 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.62 and a beta of 1.37. Western Alliance Bancorporation has a 1-year low of $65.82 and a 1-year high of $97.23. The firm's 50 day simple moving average is $75.62 and its two-hundred day simple moving average is $81.66. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.85 and a quick ratio of 0.80.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. The firm had revenue of $968.40 million during the quarter, compared to analysts' expectations of $944.18 million. During the same period in the prior year, the company posted $1.79 earnings per share. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts expect that Western Alliance Bancorporation will post 9.92 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.0%. Western Alliance Bancorporation's dividend payout ratio (DPR) is currently 19.56%.

Western Alliance Bancorporation Profile

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.

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