Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Western Alliance Bancorporation (NYSE:WAL)

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Western Alliance Bancorporation (NYSE:WAL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,800 shares of the financial services provider's stock, valued at approximately $983,000.

A number of other hedge funds have also bought and sold shares of WAL. Point72 Europe London LLP boosted its holdings in shares of Western Alliance Bancorporation by 6.6% in the fourth quarter. Point72 Europe London LLP now owns 90,643 shares of the financial services provider's stock worth $7,572,000 after acquiring an additional 5,643 shares during the period. Nicholas Investment Partners LP boosted its stake in Western Alliance Bancorporation by 12.7% in the 4th quarter. Nicholas Investment Partners LP now owns 174,582 shares of the financial services provider's stock worth $14,585,000 after purchasing an additional 19,639 shares during the period. Focus Partners Wealth boosted its stake in Western Alliance Bancorporation by 5.2% in the 4th quarter. Focus Partners Wealth now owns 99,080 shares of the financial services provider's stock worth $8,277,000 after purchasing an additional 4,909 shares during the period. New York State Common Retirement Fund grew its holdings in Western Alliance Bancorporation by 9.3% during the 4th quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider's stock valued at $8,090,000 after buying an additional 8,201 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of Western Alliance Bancorporation during the fourth quarter valued at about $727,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Western Alliance Bancorporation Trading Up 1.7%

NYSE:WAL traded up $1.22 during trading hours on Tuesday, reaching $75.13. The company's stock had a trading volume of 726,249 shares, compared to its average volume of 1,222,992. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.63 and a beta of 1.29. The firm has a 50-day simple moving average of $70.54 and a 200-day simple moving average of $80.21. Western Alliance Bancorporation has a 1 year low of $56.70 and a 1 year high of $98.10.

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

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a $0.38 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 2.02%. Western Alliance Bancorporation's payout ratio is currently 20.85%.

Wall Street Analyst Weigh In

WAL has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. 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 research report on Wednesday, April 23rd. Jefferies Financial Group started coverage on Western Alliance Bancorporation in a research report on Wednesday, May 21st. They issued a "buy" rating and a $95.00 price objective on the stock. Stephens restated an "overweight" rating and set a $92.00 target price on shares of Western Alliance Bancorporation in a research report on Tuesday, April 22nd. Finally, Barclays lowered their price target on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Western Alliance Bancorporation has an average rating of "Moderate Buy" and an average price target of $97.77.

About Western Alliance Bancorporation

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.