Victory Capital Management Inc. Has $50.23 Million Stock Position in Western Alliance Bancorporation (NYSE:WAL)

Victory Capital Management Inc. lifted its holdings in Western Alliance Bancorporation (NYSE:WALFree Report) by 5,918.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 763,459 shares of the financial services provider’s stock after purchasing an additional 750,773 shares during the period. Victory Capital Management Inc. owned 0.70% of Western Alliance Bancorporation worth $50,228,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in shares of Western Alliance Bancorporation by 422.2% in the third quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock worth $43,000 after buying an additional 760 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Western Alliance Bancorporation in the 4th quarter valued at approximately $65,000. Fortitude Family Office LLC acquired a new stake in Western Alliance Bancorporation in the 4th quarter worth approximately $93,000. Systematic Alpha Investments LLC bought a new stake in Western Alliance Bancorporation during the third quarter worth approximately $166,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Western Alliance Bancorporation during the third quarter valued at approximately $177,000. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Up 2.2 %

WAL opened at $61.29 on Friday. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 8.93 and a beta of 1.47. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.93 and a current ratio of 0.96. The firm’s 50-day simple moving average is $59.25 and its 200-day simple moving average is $57.49. Western Alliance Bancorporation has a twelve month low of $11.35 and a twelve month high of $70.23.

Western Alliance Bancorporation (NYSE:WALGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.03. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $711.34 million. During the same quarter last year, the business posted $2.30 earnings per share. Equities research analysts anticipate that Western Alliance Bancorporation will post 7.57 EPS for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 2.41%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is 21.57%.

Wall Street Analysts Forecast Growth

WAL has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Truist Financial lowered their price target on Western Alliance Bancorporation from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Wedbush cut their price objective on Western Alliance Bancorporation from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. DA Davidson lowered their target price on Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Citigroup lifted their price target on Western Alliance Bancorporation from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

View Our Latest Analysis on WAL

Western Alliance Bancorporation Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Western Alliance Bancorporation (NYSE:WAL)

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