Western Alliance Bancorporation (NYSE:WAL) Shares Bought by LHM Inc.

LHM Inc. grew its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 21.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,783 shares of the financial services provider’s stock after acquiring an additional 17,436 shares during the period. Western Alliance Bancorporation comprises about 2.6% of LHM Inc.’s investment portfolio, making the stock its 11th biggest holding. LHM Inc. owned approximately 0.09% of Western Alliance Bancorporation worth $8,252,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Retirement Systems of Alabama acquired a new position in Western Alliance Bancorporation in the third quarter worth about $11,461,000. Franklin Resources Inc. grew its stake in Western Alliance Bancorporation by 17.0% in the third quarter. Franklin Resources Inc. now owns 314,972 shares of the financial services provider’s stock worth $27,970,000 after purchasing an additional 45,764 shares in the last quarter. New York State Common Retirement Fund grew its stake in Western Alliance Bancorporation by 9.3% in the fourth quarter. New York State Common Retirement Fund now owns 96,839 shares of the financial services provider’s stock worth $8,090,000 after purchasing an additional 8,201 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in Western Alliance Bancorporation in the third quarter worth about $5,099,000. Finally, BNP Paribas Financial Markets lifted its holdings in Western Alliance Bancorporation by 1,091.8% in the third quarter. BNP Paribas Financial Markets now owns 34,073 shares of the financial services provider’s stock worth $2,947,000 after acquiring an additional 31,214 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on WAL. Stephens reissued an “overweight” rating and issued a $103.00 target price on shares of Western Alliance Bancorporation in a report on Tuesday, January 28th. Wells Fargo & Company cut their target price 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. Piper Sandler raised their target price on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com raised shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, DA Davidson cut their target price on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.07.

Western Alliance Bancorporation Trading Down 0.0 %

NYSE WAL opened at $81.15 on Thursday. Western Alliance Bancorporation has a 1-year low of $53.75 and a 1-year 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 $8.96 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46. The firm’s fifty day simple moving average is $86.65 and its 200-day simple moving average is $86.32.

Western Alliance Bancorporation (NYSE:WAL) last posted 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%. As a group, sell-side analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current fiscal year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Western Alliance Bancorporation Company 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.