Loomis Sayles & Co. L P Raises Stake in Western Alliance Bancorporation (NYSE:WAL)

Loomis Sayles & Co. L P boosted its holdings in shares of Western Alliance Bancorporation (NYSE:WAL) by 116.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,382 shares of the financial services provider’s stock after acquiring an additional 218,219 shares during the period. Loomis Sayles & Co. L P owned 0.37% of Western Alliance Bancorporation worth $33,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in Western Alliance Bancorporation by 56.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp raised its stake in Western Alliance Bancorporation by 70.1% during the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the last quarter. Allworth Financial LP grew its stake 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, Atala Financial Inc purchased a new stake in shares of Western Alliance Bancorporation in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WAL shares. UBS Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Tuesday, December 17th. They set a “buy” rating and a $115.00 price objective for the company. DA Davidson decreased their price objective on shares of Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler boosted their price target on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.07.

Western Alliance Bancorporation Price Performance

NYSE WAL opened at $78.00 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The business’s fifty day moving average is $84.71 and its 200 day moving average is $85.96. The company has a market capitalization of $8.62 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.63 and a beta of 1.43. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS 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%. Sell-side analysts predict that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, February 14th. Western Alliance Bancorporation’s dividend 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.