AlphaQuest LLC Makes New $139,000 Investment in Western Alliance Bancorporation (NYSE:WAL)

AlphaQuest LLC acquired a new position in Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,661 shares of the financial services provider’s stock, valued at approximately $139,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in Western Alliance Bancorporation by 33.3% in the fourth quarter. Larson Financial Group LLC now owns 701 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 175 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Western Alliance Bancorporation by 3.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,114 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 114 shares during the period. LHM Inc. boosted its holdings in Western Alliance Bancorporation by 21.4% in the fourth quarter. LHM Inc. now owns 98,783 shares of the financial services provider’s stock worth $8,252,000 after purchasing an additional 17,436 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Western Alliance Bancorporation during the fourth quarter valued at $2,695,000. Finally, Arizona State Retirement System boosted its holdings in shares of Western Alliance Bancorporation by 0.8% during the fourth quarter. Arizona State Retirement System now owns 30,352 shares of the financial services provider’s stock valued at $2,536,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.

Western Alliance Bancorporation Price Performance

WAL stock opened at $77.25 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a one year low of $53.75 and a one year high of $98.10. The firm has a market capitalization of $8.53 billion, a PE ratio of 10.88, a P/E/G ratio of 0.63 and a beta of 1.43. The firm has a 50-day moving average of $85.40 and a two-hundred day moving average of $86.17.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, beating 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, analysts forecast that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. DA Davidson reduced their price target 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. Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $102.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Piper Sandler lifted their price objective on shares of Western Alliance Bancorporation from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Stephens restated an “overweight” rating and set a $103.00 price objective on shares of Western Alliance Bancorporation in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.