Lmcg Investments LLC bought a new stake in Western Alliance Bancorporation (NYSE:WAL – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,986 shares of the financial services provider’s stock, valued at approximately $1,324,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parametrica Management Ltd acquired a new position in Western Alliance Bancorporation in the first quarter valued at about $289,000. MAI Capital Management boosted its position in shares of Western Alliance Bancorporation by 26.6% during the first quarter. MAI Capital Management now owns 4,693 shares of the financial services provider’s stock worth $389,000 after buying an additional 987 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth about $27,000. Global Frontier Investments LLC boosted its position in shares of Western Alliance Bancorporation by 137.5% during the first quarter. Global Frontier Investments LLC now owns 285,000 shares of the financial services provider’s stock worth $23,604,000 after buying an additional 165,000 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Western Alliance Bancorporation during the first quarter worth about $478,000. 87.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on WAL. Jefferies Financial Group reduced their price objective on Western Alliance Bancorporation from $108.00 to $92.00 in a research report on Monday, July 11th. Truist Financial reduced their price objective on Western Alliance Bancorporation to $95.00 in a research report on Tuesday, July 26th. DA Davidson dropped their target price on Western Alliance Bancorporation to $100.00 in a report on Monday, July 25th. Piper Sandler dropped their target price on Western Alliance Bancorporation to $105.00 in a report on Friday, May 20th. Finally, Wedbush upped their target price on Western Alliance Bancorporation to $85.00 in a report on Friday, July 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Western Alliance Bancorporation has a consensus rating of “Moderate Buy” and a consensus price target of $108.86.
Insider Transactions at Western Alliance Bancorporation
Western Alliance Bancorporation Price Performance
NYSE:WAL opened at $86.24 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 1.31. The stock’s 50 day moving average price is $74.90 and its two-hundred day moving average price is $80.75. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 9.36, a P/E/G ratio of 0.77 and a beta of 1.42. Western Alliance Bancorporation has a 12-month low of $68.41 and a 12-month high of $124.93.
Western Alliance Bancorporation (NYSE:WAL – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.09. The firm had revenue of $628.20 million for the quarter, compared to analyst estimates of $585.26 million. Western Alliance Bancorporation had a return on equity of 21.55% and a net margin of 40.16%. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, analysts anticipate that Western Alliance Bancorporation will post 10.03 earnings per share for the current year.
Western Alliance Bancorporation Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Western Alliance Bancorporation’s previous quarterly dividend of $0.35. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 15.64%.
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 in Commercial, Consumer Related, and Corporate & Other 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; and treasury management and residential mortgage products and services.
- Get a free copy of the StockNews.com research report on Western Alliance Bancorporation (WAL)
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