Northern Trust Corp Acquires 126,158 Shares of Western Alliance Bancorporation (NYSE:WAL)

Northern Trust Corp raised its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 912,054 shares of the financial services provider's stock after acquiring an additional 126,158 shares during the quarter. Northern Trust Corp owned about 0.83% of Western Alliance Bancorporation worth $76,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC grew its holdings in shares of Western Alliance Bancorporation by 3.8% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider's stock valued at $260,000 after buying an additional 114 shares during the period. Smartleaf Asset Management LLC lifted its position in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp lifted its position in Western Alliance Bancorporation by 70.1% during the 4th quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Western Alliance Bancorporation by 1.0% during the 4th quarter. Pacer Advisors Inc. now owns 16,263 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 163 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Western Alliance Bancorporation by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,387 shares of the financial services provider's stock worth $283,000 after purchasing an additional 167 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

Western Alliance Bancorporation Price Performance

Shares of NYSE WAL traded down $0.51 during trading hours on Friday, hitting $74.44. 446,405 shares of the stock were exchanged, compared to its average volume of 1,217,631. 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 company has a market cap of $8.22 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The company's fifty day simple moving average is $71.61 and its two-hundred day simple moving average is $82.26. 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 posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. The business had revenue of $790.10 million for the quarter, compared to analyst estimates 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 last year, the business posted $1.72 EPS. On average, sell-side analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.04%. Western Alliance Bancorporation's dividend payout ratio is 20.85%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WAL shares. Stephens restated an "overweight" rating and set a $92.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price target on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. DA Davidson decreased their price target on shares of Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays decreased their price target on shares of Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Western Alliance Bancorporation presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.62.

Western Alliance Bancorporation Company 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.