Nomura Asset Management Co. Ltd. Purchases 610 Shares of Western Alliance Bancorporation (NYSE:WAL)

Nomura Asset Management Co. Ltd. increased its position in shares of Western Alliance Bancorporation (NYSE:WAL) by 196.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 920 shares of the financial services provider’s stock after acquiring an additional 610 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Western Alliance Bancorporation were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of WAL. V Square Quantitative Management LLC bought a new position in shares of Western Alliance Bancorporation in the third quarter worth $31,000. ORG Wealth Partners LLC bought a new position in Western Alliance Bancorporation in the 3rd quarter worth about $33,000. UMB Bank n.a. raised its holdings in shares of Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Western Alliance Bancorporation by 58.4% during the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Western Alliance Bancorporation by 167.5% during the third quarter. Covestor Ltd now owns 634 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 397 shares in the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens reissued an “overweight” rating and issued a $102.00 price target on shares of Western Alliance Bancorporation in a report on Friday, October 18th. Royal Bank of Canada set a $99.00 target price on Western Alliance Bancorporation and gave the company an “outperform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upgraded Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $101.00 in a research report on Monday, October 7th. Wells Fargo & Company increased their price objective on Western Alliance Bancorporation from $92.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial dropped their target price on Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Western Alliance Bancorporation presently has a consensus rating of “Moderate Buy” and an average target price of $93.40.

Western Alliance Bancorporation Trading Down 0.8 %

Shares of WAL opened at $89.70 on Monday. The stock has a market capitalization of $9.87 billion, a P/E ratio of 13.84, a PEG ratio of 1.41 and a beta of 1.45. 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 firm has a fifty day simple moving average of $89.09 and a two-hundred day simple moving average of $78.74. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to the consensus estimate of $811.40 million. Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. On average, research analysts anticipate that Western Alliance Bancorporation will post 7.14 EPS for the current year.

Western Alliance Bancorporation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.38 dividend. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 15th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is currently 23.46%.

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.