Xponance Inc. Purchases New Shares in Western Alliance Bancorporation (NYSE:WAL)

Xponance Inc. purchased a new stake in shares of Western Alliance Bancorporation (NYSE:WAL) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,893 shares of the financial services provider’s stock, valued at approximately $256,000.

Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in Western Alliance Bancorporation by 422.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 940 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 760 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $65,000. Fortitude Family Office LLC acquired a new stake in Western Alliance Bancorporation during the 4th quarter valued at $93,000. Busey Bank bought a new position in Western Alliance Bancorporation during the 4th quarter valued at $202,000. Finally, Buckley Wealth Management LLC bought a new position in Western Alliance Bancorporation during the 4th quarter valued at $207,000. 79.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WAL has been the topic of a number of research analyst reports. Hovde Group initiated coverage on shares of Western Alliance Bancorporation in a research note on Monday, April 22nd. They set an “outperform” rating and a $75.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Western Alliance Bancorporation from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. DA Davidson reduced their price objective on shares of Western Alliance Bancorporation from $85.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Western Alliance Bancorporation from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reduced their price target on shares of Western Alliance Bancorporation from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Western Alliance Bancorporation Trading Up 0.1 %

Shares of NYSE:WAL opened at $58.68 on Friday. The company has a market cap of $6.46 billion, a PE ratio of 8.55 and a beta of 1.47. The company’s 50-day moving average price is $59.29 and its 200 day moving average price is $57.03. Western Alliance Bancorporation has a fifty-two week low of $11.35 and a fifty-two week high of $70.23. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.40.

Western Alliance Bancorporation (NYSE:WAL) last released its earnings results on Friday, April 19th. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.69 by $0.03. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $711.34 million. Western Alliance Bancorporation had a net margin of 16.50% and a return on equity of 14.99%. During the same quarter last year, the company earned $2.30 EPS. Sell-side analysts anticipate that Western Alliance Bancorporation will post 7.67 earnings per share for the current year.

Western Alliance Bancorporation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.48 annualized dividend and a yield of 2.52%. Western Alliance Bancorporation’s payout ratio is 21.57%.

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.