Western Alliance Bancorporation (NYSE:WAL) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Western Alliance Bancorporation (NYSE:WAL) by 66.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,079 shares of the financial services provider’s stock after acquiring an additional 11,978 shares during the quarter. Victory Capital Management Inc.’s holdings in Western Alliance Bancorporation were worth $2,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in Western Alliance Bancorporation in the fourth quarter worth about $26,000. Norden Group LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $727,000. Smartleaf Asset Management LLC raised its holdings in Western Alliance Bancorporation by 56.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider’s stock worth $27,000 after buying an additional 117 shares during the period. Proficio Capital Partners LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $7,377,000. Finally, Amalgamated Bank raised its holdings in Western Alliance Bancorporation by 0.3% during the 4th quarter. Amalgamated Bank now owns 52,097 shares of the financial services provider’s stock worth $4,352,000 after buying an additional 177 shares during the period. 79.15% of the stock is currently owned by institutional investors.

Western Alliance Bancorporation Stock Up 3.4 %

Shares of Western Alliance Bancorporation stock opened at $77.31 on Monday. The stock has a market capitalization of $8.54 billion, a P/E ratio of 10.89, a PEG ratio of 0.63 and a beta of 1.43. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $85.53 and a two-hundred day moving average price of $86.19. Western Alliance Bancorporation has a 12-month low of $53.75 and a 12-month high of $98.10.

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

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.97%. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 21.41%.

Analysts Set New Price Targets

Several research firms have issued reports on WAL. DA Davidson cut their price objective on Western Alliance Bancorporation from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com upgraded Western Alliance Bancorporation from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on 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. UBS Group initiated coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They issued a “buy” rating and a $115.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.