Thrivent Financial for Lutherans Cuts Holdings in Western Alliance Bancorporation (NYSE:WAL)

Thrivent Financial for Lutherans cut its holdings in Western Alliance Bancorporation (NYSE:WAL) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,275,240 shares of the financial services provider’s stock after selling 66,666 shares during the quarter. Thrivent Financial for Lutherans owned 2.07% of Western Alliance Bancorporation worth $190,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Western Alliance Bancorporation by 46.2% during the 3rd quarter. State Street Corp now owns 4,488,345 shares of the financial services provider’s stock worth $388,197,000 after purchasing an additional 1,418,472 shares in the last quarter. FMR LLC boosted its holdings in Western Alliance Bancorporation by 93.3% during the third quarter. FMR LLC now owns 2,793,014 shares of the financial services provider’s stock worth $241,568,000 after buying an additional 1,347,921 shares in the last quarter. Janus Henderson Group PLC grew its position in Western Alliance Bancorporation by 4.1% during the third quarter. Janus Henderson Group PLC now owns 1,896,377 shares of the financial services provider’s stock worth $164,019,000 after buying an additional 74,956 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Western Alliance Bancorporation by 4.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,883,743 shares of the financial services provider’s stock valued at $157,369,000 after buying an additional 81,238 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Western Alliance Bancorporation by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,880,681 shares of the financial services provider’s stock valued at $162,701,000 after acquiring an additional 120,729 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.07.

Western Alliance Bancorporation Stock Performance

NYSE:WAL opened at $77.25 on Tuesday. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.63 and a beta of 1.43. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $85.40 and its 200 day simple moving average is $86.17.

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

Western Alliance Bancorporation Dividend Announcement

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

Western Alliance Bancorporation 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.