Western Alliance Bancorporation (NYSE:WAL) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in Western Alliance Bancorporation (NYSE:WAL) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,423 shares of the financial services provider’s stock after purchasing an additional 289 shares during the quarter. GAMMA Investing LLC’s holdings in Western Alliance Bancorporation were worth $119,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in Western Alliance Bancorporation by 13.4% in the 4th quarter. Versant Capital Management Inc now owns 1,325 shares of the financial services provider’s stock valued at $111,000 after buying an additional 157 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Western Alliance Bancorporation by 49.5% during the third quarter. JPMorgan Chase & Co. now owns 191,188 shares of the financial services provider’s stock valued at $16,536,000 after acquiring an additional 63,283 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Western Alliance Bancorporation by 6,342.7% in the third quarter. Principal Financial Group Inc. now owns 514,768 shares of the financial services provider’s stock worth $44,522,000 after acquiring an additional 506,778 shares during the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Western Alliance Bancorporation during the third quarter worth approximately $11,461,000. Finally, Oddo BHF Asset Management Sas acquired a new position in Western Alliance Bancorporation in the 3rd quarter valued at $639,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $80.63 on Friday. The stock has a fifty day simple moving average of $88.52 and a 200-day simple moving average of $81.69. 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 stock has a market cap of $8.87 billion, a PE ratio of 12.44, a P/E/G ratio of 1.41 and a beta of 1.46. Western Alliance Bancorporation has a twelve month low of $53.75 and a twelve month high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its earnings results on Thursday, October 17th. The financial services provider reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Western Alliance Bancorporation had a net margin of 14.66% and a return on equity of 13.16%. The company had revenue of $833.10 million during the quarter, compared to analyst estimates of $811.40 million. Equities analysts anticipate that Western Alliance Bancorporation will post 7.14 earnings per share for the current year.

Western Alliance Bancorporation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Western Alliance Bancorporation’s previous quarterly dividend of $0.37. Western Alliance Bancorporation’s dividend payout ratio (DPR) is presently 23.46%.

Analyst Ratings Changes

WAL has been the topic of several recent research reports. Wedbush lifted their target price on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Barclays increased their price objective on shares of Western Alliance Bancorporation from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, November 8th. UBS Group began coverage on Western Alliance Bancorporation in a report on Tuesday, December 17th. They set a “buy” rating and a $115.00 target price on the stock. Finally, Royal Bank of Canada set a $99.00 price target on Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.31.

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.