Natixis Advisors LLC Has $4.26 Million Stock Holdings in Western Alliance Bancorporation $WAL

Natixis Advisors LLC cut its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 83.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 50,672 shares of the financial services provider’s stock after selling 264,380 shares during the quarter. Natixis Advisors LLC’s holdings in Western Alliance Bancorporation were worth $4,261,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WAL. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Western Alliance Bancorporation by 36.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,979,916 shares of the financial services provider’s stock worth $518,578,000 after buying an additional 1,599,537 shares during the period. Norges Bank acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth approximately $125,482,000. M&T Bank Corp boosted its position in Western Alliance Bancorporation by 7,920.9% during the 4th quarter. M&T Bank Corp now owns 315,624 shares of the financial services provider’s stock worth $26,535,000 after buying an additional 311,689 shares during the period. Bank of Montreal Can raised its holdings in Western Alliance Bancorporation by 35.8% during the 3rd quarter. Bank of Montreal Can now owns 1,179,518 shares of the financial services provider’s stock worth $102,288,000 after purchasing an additional 310,826 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Western Alliance Bancorporation by 750.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 287,403 shares of the financial services provider’s stock worth $25,019,000 after purchasing an additional 253,622 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WAL has been the subject of several analyst reports. Barclays lowered their price target 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. DA Davidson lowered their price target on shares of Western Alliance Bancorporation from $93.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of Western Alliance Bancorporation from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Citigroup lowered their price target on shares of Western Alliance Bancorporation from $103.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Western Alliance Bancorporation from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.93.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $80.09 on Tuesday. The company has a fifty day moving average of $77.45 and a 200-day moving average of $81.81. The firm has a market capitalization of $8.74 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.61 and a beta of 1.34. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 0.88. Western Alliance Bancorporation has a twelve month low of $65.82 and a twelve month high of $97.23.

Western Alliance Bancorporation (NYSE:WAL) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.74. The company had revenue of $968.40 million during the quarter, compared to analyst estimates of $944.18 million. Western Alliance Bancorporation had a net margin of 17.03% and a return on equity of 13.58%. Western Alliance Bancorporation’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 EPS. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.8 EPS for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were paid a $0.42 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Western Alliance Bancorporation’s payout ratio is currently 19.56%.

About Western Alliance Bancorporation

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.