1,661 Shares in Western Alliance Bancorporation (NYSE:WAL) Acquired by AlphaQuest LLC

AlphaQuest LLC bought a new position in Western Alliance Bancorporation (NYSE:WAL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,661 shares of the financial services provider’s stock, valued at approximately $139,000.

Several other hedge funds have also modified their holdings of WAL. SBI Securities Co. Ltd. acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. Allworth Financial LP boosted its position in shares of Western Alliance Bancorporation by 115.6% in the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 215 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Western Alliance Bancorporation by 338.1% in the fourth quarter. Principal Securities Inc. now owns 679 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 524 shares during the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

Western Alliance Bancorporation Stock Up 0.0 %

WAL stock 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 company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.53 billion, a P/E ratio of 10.88, a PEG ratio of 0.63 and a beta of 1.43. The firm has a 50 day simple moving average of $85.40 and a 200-day simple moving average of $86.17.

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

Western Alliance Bancorporation Announces Dividend

The business also recently declared 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. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation’s payout ratio is currently 21.41%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Stephens restated an “overweight” rating and issued a $103.00 price target on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. UBS Group assumed coverage on shares of Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 price target on the stock. Piper Sandler raised their price target on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.07.

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.