Western Alliance Bancorporation (NYSE:WAL) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,275,240 shares of the financial services provider’s stock after selling 66,666 shares during the period. Thrivent Financial for Lutherans’ holdings in Western Alliance Bancorporation were worth $190,074,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WAL. Victory Capital Management Inc. boosted its stake in shares of Western Alliance Bancorporation by 25.4% during the 3rd quarter. Victory Capital Management Inc. now owns 18,101 shares of the financial services provider’s stock valued at $1,566,000 after buying an additional 3,662 shares during the last quarter. KBC Group NV raised its holdings in Western Alliance Bancorporation by 15.2% in the third quarter. KBC Group NV now owns 2,779 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 367 shares in the last quarter. CIBC Asset Management Inc bought a new position in Western Alliance Bancorporation during the 3rd quarter valued at $278,000. Natixis Advisors LLC grew its holdings in Western Alliance Bancorporation by 15.1% during the 3rd quarter. Natixis Advisors LLC now owns 335,496 shares of the financial services provider’s stock worth $29,018,000 after acquiring an additional 44,106 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Western Alliance Bancorporation in the 3rd quarter worth about $5,099,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Up 0.0 %

WAL opened at $77.25 on Tuesday. The stock’s fifty day moving average is $85.40 and its 200-day moving average is $86.17. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The company has a market capitalization of $8.53 billion, a PE ratio of 10.88, a P/E/G ratio of 0.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a net margin of 15.49% and a return on equity of 13.14%. On average, equities analysts predict that Western Alliance Bancorporation will post 9.05 EPS for the current fiscal year.

Western Alliance Bancorporation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio is presently 21.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WAL shares. Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. DA Davidson lowered their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.07.

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.